(Adds economic data)
July 29 (Reuters) - Futures pointed to a lower start for Canada's main stock index on Friday after data showed Canadian economy recorded its biggest monthly decline since March 2009 as wildfires in northern Alberta caused a sharp drop in oil extraction.
Monthly gross domestic product fell 0.6 percent in May, topping economists' expectations for a decline of 0.4 percent.
September futures on the S&P TSX index were down 0.12 percent at 8:45 a.m. ET.
Weakness in oil prices, with Brent prices on track for its biggest monthly loss since December 2015, also weighed on investor sentiment.
The U.S. economy grew far less than expected in the second quarter as inventories fell for the first time since 2011. The Commerce Department said on Friday gross domestic product increased at a 1.2 percent annual rate after rising by a downwardly revised 0.8 percent pace in the first quarter.
Statistics Canada also reported producer prices rose in June as the cost of energy and petroleum products increased for a fourth month in a row.
Canada's main stock index eked out a small gain on Thursday, helped by positive earnings surprises from Teck Resources Ltd and others, while disappointment over Potash Corp's dividend and outlook cut and other earnings misses weighed.
Dow Jones Industrial Average e-mini futures were down 0.26 percent at 8:45 a.m. ET, while S&P 500 e-mini futures were down 0.20 percent and Nasdaq 100 e-mini futures were up 0.07 percent.
Air Canada reported a better-than-expected quarterly profit on lower fuel expenses and the country's largest airline cut its cost estimate for the year.
Enbridge Inc , Canada's largest pipeline company, reported a 47.8 percent fall in quarterly profit as the company's liquids pipeline business was hit by a massive wildfire in Fort McMurray, Alberta.
Imperial Oil Ltd, Canada's No.2 integrated oil producer and refiner, reported a quarterly loss due to the impact of wildfires in Fort McMurray, Alberta.
COMMODITIES AT 7:30 a.m. ET
Gold futures : $1,340.80; +0.64 pct
US crude : $40.87; -0.66 pct
Brent crude : $42.12; -1.36 pct
LME 3-month copper : $4,884; -0.26 pct
Cenovus Energy Inc : UBS raises price target to C$20 from C$19; rating "neutral"
First Quantum Minerals Ltd : Paradigm raises price target to C$15.50 from C$8.50
Goldcorp Inc : Canaccord Genuity cuts price target to C$27 from C$30
0830 GDP advance for Q2: Actual 1.2 pct; Revised 0.8 pct
0830 GDP sales advance for Q2: Actual 2.4 pct; Revised 1.2 pct
0830 GDP consumer spending advance for Q2: Actual 4.2 pct; Revised 1.6 pct
0830 GDP deflator advance for Q2: Actual 2.2 pct; Revised 0.5 pct
0830 Core PCE prices advance for Q2: Actual 1.7 pct; Revised 2.1 pct
0830 PCE prices advance for Q2: Actual 1.9 pct; Revised 0.3 pct
0830 Employment wages qq for Q2: Actual 0.6 pct; Prior 0.7 pct
0830 Employment benefits qq for Q2: Actual 0.5 pct; Prior 0.5 pct
0830 Employment costs for Q2: Actual 0.6 pct; Prior 0.6 pct
0945 Chicago PMI for Jul: Expected 54.0; Prior 56.8
1000 University of Michigan Consumer Sentiment Index Final for Jul: Expected 90.5; Prior 89.5
1000 University of Michigan Current Conditions Index Final for Jul: Expected 109.0; Prior 108.7
1000 University of Michigan Consumer Expectations Index Final for Jul: Expected 79.5; Prior 77.1
1000 University of Michigan 1 Year Inflation Expectations final for Jul: Prior 2.8 pct
1000 University of Michigan 5 Year Inflation Expectations final for Jul: Prior 2.6 pct
1030 ECRI Weekly Index: Prior 138.1
1030 ECRI weekly annualized: Prior 7.5 pct
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1= C$1.32) (Reporting by Nikhil Kumar in Bengaluru; Editing by Kirti Pandey and Maju Samuel)