Canada’s economy ekes out 1% growth in third quarter

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Posted November 29, 2024 8:41 am

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The Canadian system continued to turn successful the 3rd 4th arsenic user spending rebounded, Statistics Canada said Friday.

On an annualized basis, existent gross home merchandise roseate 1 per cent betwixt July and September, according to StatCan. That marks a slowdown from 2.2 per cent annualized maturation successful the erstwhile quarter.

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StatCan pointed to accrued user spending, peculiarly connected caller trucks, vans and SUVs.

Spending was besides higher crossed each levels of authorities successful the 3rd quarter, the bureau said.

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The results undershot the Bank of Canada’s telephone for 1.5 per cent annualized maturation successful the 3rd quarter.

StatCan said that existent GDP per capita was down 0.4 per cent successful the quarter, meaning maturation connected a per-person ground has present declined for the sixth consecutive quarter.

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