Not that I care about something that's fake anyway (the economy), but for the 'conservatives' here..
Canadian economy rebounds with fastest growth in two years
Canada posted its strongest economic growth in more than two years in the third quarter, as a rebound in exports helped the economy bounce back strongly from its second-quarter slump.
Statistics Canada reported Wednesday that real gross domestic product rose at an annualized rate of 3.5 per cent in the quarter ended Sept. 30, the fastest quarter-over-quarter pace since the 2014 second quarter. It's a sharp reversal from the second quarter, when GDP declined at a revised 1.3-per-cent annualized rate.
Economists had widely expected the strong third-quarter recovery, as prior economic indicators had suggested that activity had returned to normal following the wildfires that had dramatically slowed Alberta's energy sector, and exports had rebounded from their second-quarter weakness. The result was roughly in line with their average estimate of 3.4 per cent.
The statistical agency also reported that September GDP rose 0.3 per cent month-over-month, beating economists' average estimate of 0.1 per cent.
In addition to the strong third-quarter result, Statscan also revised upward its GDP figures from the first half of the year. The second-quarter decline was revised to a drop of 1.3 per cent annualized from the originally reported 1.6 per cent, and first-quarter growth was revised to 2.7 per cent from 2.5 per cent.
"What's encouraging about today's figures are the upward revisions to the first half, and the surprisingly solid performance by the economy at the end of the quarter, presaging respectable growth in the fourth quarter as well," said Douglas Porter, chief economist at Bank of Montreal, in a research note.
Statscan said exports of goods and services surged at an annualized pace of 8.9 per cent in the quarter, a reversal from the 14.8-per-cent decline in the second quarter. The key driver was a sharp turnaround in energy exports, which jumped 6.1 per cent quarter-over-quarter – nearly 25 per cent annualized – as shipments roared back following the second-quarter slump brought on by the wildfires.
Meanwhile, household consumption grew at an annualized rate of 2.6 per cent, showing encouraging strength in consumer demand. Economists cited the federal government's Canada Child Benefit, which increased payments to low– and middle-income families beginning in July, as a key catalyst for the quarter's consumption growth.
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Let the conbot excuses begin!
Canadian economy turns around to grow 3.5% in 3rd quarter - Business - CBC News
Canadian economy rebounds with fastest growth in two years
Canada posted its strongest economic growth in more than two years in the third quarter, as a rebound in exports helped the economy bounce back strongly from its second-quarter slump.
Statistics Canada reported Wednesday that real gross domestic product rose at an annualized rate of 3.5 per cent in the quarter ended Sept. 30, the fastest quarter-over-quarter pace since the 2014 second quarter. It's a sharp reversal from the second quarter, when GDP declined at a revised 1.3-per-cent annualized rate.
Economists had widely expected the strong third-quarter recovery, as prior economic indicators had suggested that activity had returned to normal following the wildfires that had dramatically slowed Alberta's energy sector, and exports had rebounded from their second-quarter weakness. The result was roughly in line with their average estimate of 3.4 per cent.
The statistical agency also reported that September GDP rose 0.3 per cent month-over-month, beating economists' average estimate of 0.1 per cent.
In addition to the strong third-quarter result, Statscan also revised upward its GDP figures from the first half of the year. The second-quarter decline was revised to a drop of 1.3 per cent annualized from the originally reported 1.6 per cent, and first-quarter growth was revised to 2.7 per cent from 2.5 per cent.
"What's encouraging about today's figures are the upward revisions to the first half, and the surprisingly solid performance by the economy at the end of the quarter, presaging respectable growth in the fourth quarter as well," said Douglas Porter, chief economist at Bank of Montreal, in a research note.
Statscan said exports of goods and services surged at an annualized pace of 8.9 per cent in the quarter, a reversal from the 14.8-per-cent decline in the second quarter. The key driver was a sharp turnaround in energy exports, which jumped 6.1 per cent quarter-over-quarter – nearly 25 per cent annualized – as shipments roared back following the second-quarter slump brought on by the wildfires.
Meanwhile, household consumption grew at an annualized rate of 2.6 per cent, showing encouraging strength in consumer demand. Economists cited the federal government's Canada Child Benefit, which increased payments to low– and middle-income families beginning in July, as a key catalyst for the quarter's consumption growth.
https://beta.theglobeandmail.com/re...http://www.theglobeandmail.com&service=mobile
Let the conbot excuses begin!
Canadian economy turns around to grow 3.5% in 3rd quarter - Business - CBC News
