• Canada’s economy grows 0.9 percent q-o-q in Q2

Market news

30 August 2019

Canada’s economy grows 0.9 percent q-o-q in Q2

Statistics Canada announced on Friday that the country’s gross domestic product (GDP) grew 0.2 percent m-o-m in June, the same growth rate as in May.

That was above economists’ forecast for a gain of 0.1 percent m-o-m.

In the second quarter of 2019, the Canadian GDP rose 0.9 percent q-o-q, following a 0.1 percent q-o-q advance in the first quarter. That was the strongest growth rate since the second quarter of 2017.

According to the report, growth in GDP was led by a 3.2 percent jump in export volumes, while final domestic demand decreased 0.2 percent.

Expressed at an annualized rate, Canada’s GDP surged 3.7 percent in the second quarter, while economists had predicted it would grow 3.0 percent. 

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