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Canada’s economy rises 0.7% in Q3

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Ottawa, Nov 30 (IANS) Canada’s real gross domestic product (GDP) rose 0.7 per cent in the third quarter, the fifth consecutive quarterly increase, the national statistical agency said.

Statistics Canada said that growth in exports, non-residential structures, and business investment in inventories were moderated by declines in housing investment and household spending, reports Xinhua news agency.

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Final domestic demand, composed of expenditures on final consumption and capital investment, edged down 0.2 per cent, following a 0.6 per cent increase in the second quarter.

According to Statistics Canada, real GDP edged up 0.1 per cent in September.

Growth was led by goods-producing industries, while services-producing industries were essentially unchanged.

Advance information indicated that real GDP was essentially unchanged in October.

Increases in the public, transportation and warehousing, construction and wholesale trade sectors were offset by decreases in the manufacturing and mining, quarrying and oil and gas extraction sectors, Statistics Canada said.

–IANS

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