Canada Croissance Du Pib

The Canadian GDP expanded by 0.3% from the earlier quarter in the three months to September of 2024, slowing from 0.5% expansions in the first two quarters of the year, in line with market expectations. Economic growth was carried by household consumption (0.9%) amid increases for new trucks, vans, and sport utility vehicles, and higher demand for financial services. Growth was also robust for government expenditure (1.1%) amid higher spending at all levels of government. These were offset by slowing non-farm inventory accumulations, largely seen in motor trades, and lower business capital investment due to less spending on machinery and equipment. Lastly, net domestic demand contributed negatively to the GDP as exports of goods and services contracted 0.3%, compared to a slower 0.1% drop in imports. In annualized terms, the Canadian economy expanded by 1% in the period.