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Canada's economy up 1.0% annualized in Q3, October GDP likely up 0.1%

Kitco Media
By Reuters
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Updated:
Reuters
Canada's economy up 1.0% annualized in Q3, October GDP likely up 0.1% teaser image

OTTAWA, Nov 29 (Reuters) - Canada's economy was up 1.0% on an annualized basis in the third quarter, in line with analysts' expectations, as higher household and government spending were moderated by slower non-farm inventory accumulation, Statistics Canada data showed on Friday.

September's GDP rose 0.1% compared to August, below analysts' expectations, while October's GDP was also likely to increase by 0.1%, StatsCan said in a flash estimate.

Following are seasonally adjusted figures for gross domestic product, in percent. With the exception of the price index data, they are adjusted for inflation.

Q3 Q2 Q1
Annualized change +1.0 +2.2 +2.0
Change from previous quarter +0.3 +0.5 +0.5
Quarterly change in GDP
implicit price index +0.6 +1.0 -0.2

NOTE: The median forecast of analysts in a Reuters poll was for 1.0% annualized growth in the third quarter and for September GDP to be up 0.3%.

(Reporting by Dale Smith; editing by Promit Mukherjee) ((promit.mukherjee@tr.com, opens new tab))

Keywords: CANADA ECONOMY/GDP

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