GDP growth better than forecast for Q3

GDP growth better than forecast for Q3

GDP growth better than forecast for Q3 Real GDP rose 0.7 per cent in the third quarter, following a 0.9 per cent gain in the second quarter, StatsCan reported today. On a monthly basis, real GDP by industry increased 0.4 per cent in September. The main contributors to GDP growth were exports of goods (+2.2 per cent) and household spending (+0.7 per cent). Investment in residential property was up 3 per cent, that’s the fastest pace since 2012. Export of goods was higher (+2.2 per cent) led by chemical exports which were up 10 per cent. Export of services was lower by 1 per cent.