Canada's GDP grew for 3rd straight month in August, up 0.2%

Canada's economy expanded by 0.2 per cent in August, a slight cooldown from the much hotter expansion in the previous two summer months.

Statistics Canada reported Tuesday that the country's gross domestic product grew as the mining, quarrying, oil and gas extraction, utilities, manufacturing and construction sectors all expanded.

Oil and gas extraction expanded by 0.9 per cent. Mining excluding oil and gas grew by two per cent, largely due to a big 14 per cent surge in potash export volumes.

The goods-producing sector is now "within a hair's breadth of where it began the year," TD economist Brian DePratto said. "After the wildfire-led pullback in economic activity in May, and the subsequent rebound in June and July, it looks like things are effectively back to 'normal' for the Canadian economy. "

The service sector, which includes trade, transportation, accommodation and food services, was essentially unchanged. 

The finance and insurance sector shrank, as did retail trade.