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- Canada’s economy grows 0.9 percent q-o-q in Q2
Canada’s economy grows 0.9 percent q-o-q in Q2
Statistics
Canada announced on Friday that the country’s gross domestic product (GDP) grew
0.2 percent m-o-m in June, the same growth rate as in May.
That was above economists’
forecast for a gain of 0.1 percent m-o-m.
In the second
quarter of 2019, the Canadian GDP rose 0.9 percent q-o-q, following a 0.1
percent q-o-q advance in the first quarter. That was the strongest growth rate
since the second quarter of 2017.
According to
the report, growth in GDP was led by a 3.2 percent jump in export volumes,
while final domestic demand decreased 0.2 percent.
Expressed at an
annualized rate, Canada’s GDP surged 3.7 percent in the second quarter, while
economists had predicted it would grow 3.0 percent.
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