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- Canada’s economy grows 0.3 percent q-o-q in Q3
Canada’s economy grows 0.3 percent q-o-q in Q3
Statistics
Canada announced on Friday that the country’s gross domestic product (GDP) grew
0.1 percent m-o-m in September, the same growth rate as in August.
That was in
line with economists’ forecast for a gain of 0.1 percent m-o-m.
In the third
quarter of 2019, the Canadian GDP rose 0.3 percent q-o-q, following a 0.9
percent q-o-q surge in the second quarter.
According to
the report, third-quarter growth in GDP was led by higher business investment (+2.6
percent q-o-q, the fastest pace since the fourth quarter of 2017) and increased
household spending (+0.4 percent q-o-q). These increases, however, were moderated
by a 0.4 percent q-o-q drop in exports, while imports were flat q-o-q.
Expressed at an
annualized rate, Canada’s GDP grew 1.3 percent in the third quarter after a
revised 3.5 percent climb in the previous quarter (originally 3.7 percent),
while economists had predicted it would grow 1.2 percent.
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