Canada's economy grows 0.6% in July

Canada's real gross domestic product (GDP) grew 0.6 percent in July, rebounding from a 0.5-percent decline in June, Statistics Canada said Monday. The expansion is one of the biggest in two years, largely due to a 1.9-percent increase of construction, which declined 2.1 percent in June. Manufacturing, as well as mining and oil and gas extraction both rose, while the utilities, agriculture and forestry sectors all declined, the agency said. Service industries jumped 0.3 percent in July, with most major industrial groupings registering growth. Notable gains were recorded in wholesale and retail trade, the finance and insurance sector, and the arts and entertainment sector.