Canada: Real GDP grew 0.3% in the first quarter

Eren Sengezer FXStreet

"Real gross domestic product (GDP) grew 0.3% in the first quarter, following an increase of 0.4% in each of the previous two quarters," Statistics Canada reported on Thursday. Below are key takeaways from the official press releases.

Final domestic demand rose by 0.5%.
Growth was moderated by a deceleration in household spending, lower exports of non-energy products and a decline in housing investment (-1.9%).
Household spending grew 0.3%, the slowest pace since the first quarter of 2015.
Household spending on goods was unchanged, following 11 consecutive quarterly increases.
Export volumes rose 0.4% after increasing 1.0% in the fourth quarter of 2017.
- Exports of crude oil and crude bitumen (+9.9%) largely contributed to the gains.
Expressed at an annualized rate, real GDP was up 1.3% in the first quarter.
- In comparison, real GDP in the United States grew 2.2%.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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