“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%.
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