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“Canada’s real gross domestic product (GDP) grew 0.5% in the third quarter, following a 0.7% increase in the second quarter,” Statistics Canada reported on Friday.

Key quotes

  • Final domestic demand was unchanged, constrained by falling investment, while export volumes edged up 0.2%.
  • Strength in the mining and petroleum refining industries boosted corporate earnings.
  • Expressed as an annualized rate, real GDP was up 2.0% in the third quarter.
  • In comparison, real GDP in the United States grew 3.5%.
  • Import volumes declined 2.0% in the third quarter, with imports of refined petroleum products falling 27.2%.