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Canada: Real GDP rose 1.1% in the second quarter, following a 0.9% gain in the first quarter
"Real gross domestic product (GDP) rose 1.1% in the second quarter, following a 0.9% gain in the first quarter," the Statistics Canada said on Thursday.
Key quotes:
- The cumulative growth in the first two quarters of the year (+2.0%) was the strongest since 2002 (+2.1%).
- Real gross national income, a measure of the purchasing power of productive income earned by Canadian residents, advanced a more modest 0.4% in the second quarter, constrained by worsening terms of trade.
- Export prices increased 0.5%, while import prices rose 2.7% in tandem with a depreciating Canadian dollar.
- Household final consumption expenditure grew 1.1%, following a 1.2% increase the previous quarter.
- The gross operating surplus of corporations edged down 0.1% in the second quarter. Gross operating surplus of non-financial corporations grew 0.3%, a fourth consecutive quarterly gain.
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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