Canadian Plastics

Economy grew by 4.5 per cent in Q2 2017: StatsCan

Canada's gross domestic product grew by 1.1 per cent between March and June, an improvement from the 0.9 per cent growth seen in the previous three-month period, the agency said.

September 1, 2017   Canadian Plastics

Spurred by strong consumer spending, the Canadian economy grew at an annual rate of 4.5 per cent in second quarter 2017, giving the country its best start to a calendar year since 2002, a new report from Statistics Canada said.

Canada’s gross domestic product grew by 1.1 per cent between March and June, an improvement from the 0.9 per cent growth seen in the previous three-month period, the agency said. That’s an annualized rate of expansion of 4.5 per cent, the highest the figure has been since the third quarter of 2011.

Exports in goods and services rose 2.3 per cent, while the export of energy products increased 9.2 per cent.

Households spent 1.9 per cent more on goods in the second quarter – the strongest gain since 2007.

The second-quarter acceleration was fuelled by an eighth-consecutive monthly increase in June that included a two per cent expansion in the construction sector — its largest gain in four years. According to Statistics Canada, 14 of 20 industrial sectors saw growth in June.


Print this page

Related Stories

Leave a Reply

Your email address will not be published. Required fields are marked *

*