The Canadian economy grew 0.2% in August as retail trade jumped sharply after two months of decline, Statistics Canada reported today.

Rising oil and mineral extraction also powered the growth, and both the goods and services sectors advanced.

The 0.2% overall expansion exceeded the consensus expectation of 0.1% among private-sector economists.

Year-over-year expansion in gross domestic product was 2.4%, StatsCan reported, with growth of 0.8% in goods-producing industries and 3.2% in services.

The manufacturing and utilities segments were laggards in August, but most other categories showed gains over July, including construction, forestry and wholesale trade.

Retail activity expanded by 1.3%, propelled by car sales and supported by increases in purchases of furniture, electronics, general merchandise and food. Total retail trade was up 5.9% from August 2006.

The energy sector overall was flat after declining in July, as crude oil production grew while natural gas output fell.

But output in the mining sector leaped 2.9%, with total production of copper, nickel, lead and zinc hitting an all-time high.

Statistics Canada said construction posted its fourth straight monthly increase, up 0.5% in August, led by multi-unit residential work, while construction of commercial buildings and single-family homes slipped.

The home resale market pulled back sharply in August, mainly in Ontario and Quebec. This caused a 5.6% monthly drop for the real estate brokers industry, Statistics Canada said, “marking a return to a more normal level of activity following record high transactions in June and July.”

Manufacturing stood still in August, with gains in vehicle, clothing, and beverage and tobacco manufacturing offset by declines in chemicals, vehicle parts and lumber. Manufacturing activity as a whole was up a mere 0.2% year-over-year.

Among other sectors, finance and insurance grew 0.2% in August, held back by the month’s turmoil in asset-backed commercial paper, while the accommodation and food-services sector rose 0.9%.

The number of foreign visitors advanced 2.4% over July as travel from the United States rose 4.3%.