Canada: Growth in real GDP slowed to 0.4% in the third quarter of 2017
|"Growth in real gross domestic product (GDP) slowed to 0.4% in the third quarter of 2017, following a 1.0% increase in the second quarter," the Statistics Canada reported on Friday.
Key highlights
Increased household final consumption expenditure (+1.0%) was the main contributor, while weaker exports (-2.7%) moderated growth.
Final domestic demand grew 0.9%, a rate similar to the previous two quarters.
Exports fell 2.7% while imports were flat in the quarter.
Lower exports of motor vehicles and parts (-9.0%) were the largest contributor to the decline, and were generally attributable to work stoppages and changes to certain models destined for the American market.
Exports of metal and non-metallic mineral products (-4.5%), consumer goods (-3.1%) and energy products (-1.9%) also fell.
Household final consumption expenditure grew 1.0% as households increased their outlays on both services (+1.3%) and goods (+0.6%).
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