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01.12.2015 13:52

Canada's GDP climbs 0.6% in the third quarter

Statistics Canada released GDP (gross domestic product) growth data on Tuesday. Canada's GDP growth dropped 0.5% in September, missing expectations for a flat reading, after a 0.1% rise in August.

On a quarterly basis, GDP climbed 0.6% in the third quarter, after 0.1% decline in the second quarter.

The quarterly rise was driven by increased international demand for Canadian goods and services. Exports of goods and services rose 2.3% in the third quarter, while imports of goods and services declined 0.7%.

Household final consumption expenditure was up 0.4% in the third quarter as spending on durable, non-durable and semi-durable goods rose.

The household saving rate fell to 4.2% in the third quarter from 4.9% in the second quarter.

Final domestic demand was flat in the third quarter, after a 0.1% rise in the second quarter.

Mineral exploration and evaluation plunged 9.3% in the third quarter.

Business gross fixed capital formation dropped 0.8% in the third quarter.

On a yearly basis, GDP rose 2.3% in the third quarter, in line with expectations, after 0.3% drop in the second quarter. The second quarter's figure was revised up from a 0.5% decline.

Market Focus

  • US nonfarm payrolls rise more than expected in July
  • Canada’s merchandise trade deficit widens in June
  • Canada unemployment rate falls to lowest level since October 2008
  • Canada Ivey PMI falls less than expected in July
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