Canadian economy expands during 1.7% annual gait in third quarter

The Canadian economy stretched during an annualized rate of 1.7 per cent in a third entertain of 2017 as weaker exports practical downward vigour on growth.

Statistics Canada says a boost in genuine sum domestic product was driven by a one per cent enlargement in domicile spending.

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But it says exports fell on a quarter-over-quarter basement of 2.7 per cent, that enclosed a 3.4 per cent diminution in products exports that followed 3 buliding of growth.

The statistical group also done a downward rider to Canada’s genuine GDP enlargement for a second entertain — dropping it to an annualized rate of 4.3 per cent compared with a initial reading of 4.5 per cent.

Economists had approaching enlargement in a third entertain to come in during an annualized rate of 1.6 per cent, according to Thomson Reuters.

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The third-quarter series was a small weaker than a Bank of Canada’s Oct forecast, that likely genuine GDP to ring in during 1.8 per cent. The executive bank is raised genuine GDP to enhance by 2.5 per cent in a fourth quarter.

The latest GDP figure follows four-consecutive buliding of stronger enlargement — 4.3 per cent, 2.2 per cent, 3.7 per cent and 4.3 per cent.

The third-quarter news also says investment in residential structures fell for a second-straight entertain — a initial time given early 2013 that a difficulty saw a diminution in dual true quarters.

The information found a remuneration of employees increasing 1.3 per cent in favoured terms for a strongest quarterly enlargement in 3 years.

Article source: http://www.cbc.ca/news/business/canada-economy-gdp-1.4427974?cmp=rss