Canadian economy returns to quarterly growth amid signs of weakness
Canada's economy resumed growing in the third quarter, Statistics Canada reported today, officially ending the mild recession that hit the country in the first two quarters of 2015. But there are already signs that the rebound may not be very robust.
The economy expanded at an annual pace of 2.3 per cent in the three months that ended in September, slightly below economists' expectations of 2.4 per cent growth.
Increases in exports and household spending drove growth in the third quarter, the federal agency said.
Helped by a low Canadian dollar that makes Canadian products more attractive in foreign markets, exports of goods rose 2.7 per cent in the quarter, led by strong increases in cross-border shipments of motor vehicles and parts.
But the gross domestic product report showed warning signs that the economic rebound is weak.
For September, GDP contracted by 0.5 per cent, following three consecutive months of growth.
Canadian economy returns to quarterly growth amid signs of weakness - Business - CBC News
Canada's economy resumed growing in the third quarter, Statistics Canada reported today, officially ending the mild recession that hit the country in the first two quarters of 2015. But there are already signs that the rebound may not be very robust.
The economy expanded at an annual pace of 2.3 per cent in the three months that ended in September, slightly below economists' expectations of 2.4 per cent growth.
Increases in exports and household spending drove growth in the third quarter, the federal agency said.
Helped by a low Canadian dollar that makes Canadian products more attractive in foreign markets, exports of goods rose 2.7 per cent in the quarter, led by strong increases in cross-border shipments of motor vehicles and parts.
But the gross domestic product report showed warning signs that the economic rebound is weak.
For September, GDP contracted by 0.5 per cent, following three consecutive months of growth.
Canadian economy returns to quarterly growth amid signs of weakness - Business - CBC News