- Analytics
- News and Tools
- Market News
- Canada's GDP declines 0.1% in the first quarter, the first negative reading since the second quarter of 2011
Canada's GDP declines 0.1% in the first quarter, the first negative reading since the second quarter of 2011
Statistics Canada released GDP (gross domestic product) data on Friday. Canada's GDP decreased 0.1% in the first quarter, after a 0.6% gain in the fourth quarter.
It was the first negative reading since the second quarter of 2011.
The fall was driven by declines in many sectors, including mining, oil and gas extraction, construction, wholesale trade and manufacturing.
Household spending increased 0.1% in the first quarter, the slowest rise since the second quarter of 2012. Spending on durable goods dropped -1.4%, spending on semi-durable goods rose 0.3%, while spending on non-durable goods was up 0.7%.
Spending on services gained 0.1%.
Exports of goods and services decreased 0.3%, while Imports of goods and services declined 0.4%.
On a yearly basis, Canada's GDP dropped 0.6% in the first quarter, missing expectations for a 0.3% gain, after a 2.2% rise in the fourth quarter. The fourth quarter's figure was revised down from a 2.4% increase.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
