UPDATE 1-Canadian economy resumes growth in August

* GDP grows 0.3 percent after July decline

* Wholesale, manufacturing and energy drive growth
(Adds details)

OTTAWA, Oct 29 (BestGrowthStock) – Canada’s economy resumed growing
in August after a brief downturn in July, bolstered by
wholesale trade, manufacturing and oil and gas extraction,
Statistics Canada said on Friday.

Gross domestic product by industry climbed 0.3 percent in
the month, as expected in a Reuters poll, compared with a 0.1
percent contraction in July.

Growth for both goods-producing and services-producing
industry groups was identical, at 0.3 percent.

Wholesale trade, particularly of machinery and equipment,
was one of the biggest contributors to growth. Wholesale
activity expanded 1.1 percent in the first increase in four
months.

Over half of the 21 manufacturing groups also advanced for
a sectoral gain of 0.5 percent. Oil and gas extraction jumped
1.5 percent.
(Reporting by Louise Egan and Howaida Sorour, Editing by Chizu
Nomiyama)

UPDATE 1-Canadian economy resumes growth in August