The Canadian economy grew by a higher-than-forecast 0.2 percent in July, but a downward revision for June neutralized the unexpected gain and left growth expectations fairly tepid.

The median forecast in a Reuters survey of analysts was for 0.1 percent real growth in July. But the revision of June's growth figure to 0.1 percent from 0.2 percent in Friday's Statistics Canada report means actual gross domestic product (GDP) in July was almost exactly as forecast.