Canada's Q3 GDP growth slows to 0.3%, with household spending up by 0.9%.

From Investing.com: 2024-11-29 09:10:58

In the third quarter of 2024, Canada’s real GDP grew by 0.3%, with slower accumulation of inventories, reduced business investment, and decreased exports contributing to the tempered growth. On a per capita basis, there was a 0.4% decline. Household spending increased by 0.9%, while government expenditures rose by 1.1%.

Business investment in machinery and equipment dropped by 7.8%, particularly in transportation equipment, while investment in intellectual property products rose by 1.4%. Housing sector investment increased by 0.8%, driven by ownership transfer costs. Exports fell by 0.3%, with a decrease in the GDP deflator due to lower export prices.

Employee compensation increased by 1.7%, driven by finance, real estate, and educational services sectors. Household net saving improved, with disposable income growing faster than spending. Corporate income fell by 1.1%, with motor vehicle industries declining but oil and gas sectors growing. Financial corporations saw a gross operating surplus increase of 0.9%.



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