Canada's economy rises 0.7 pct in third quarter

By Lin Wei
  • World
  • Wednesday, 30 Nov 2022

OTTAWA, Nov. 29 (Xinhua) -- Canada's real gross domestic product (GDP) rose 0.7 percent in the third quarter, the fifth consecutive quarterly increase, Statistics Canada said Tuesday.

Growth in exports, non-residential structures, and business investment in inventories were moderated by declines in housing investment and household spending. Final domestic demand, composed of expenditures on final consumption and capital investment, edged down 0.2 percent, following a 0.6 percent increase in the second quarter, the national statistical agency said.

According to the agency, real GDP edged up 0.1 percent in September. Growth was led by goods-producing industries, while services-producing industries were essentially unchanged.

Advance information indicated that real GDP was essentially unchanged in October. Increases in the public, transportation and warehousing, construction and wholesale trade sectors were offset by decreases in the manufacturing and mining, quarrying and oil and gas extraction sectors, Statistics Canada said.

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