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Postive gains in quarterly, March GDP numbers: StatsCan

Published by Brad Fougere on May 30, 2014

Industrial machinery and equipment investments, terms of trade and service exports gains contributed to a 0.3 per cent first quarter 2014 gain in real GDP according to a May 30 Statistics Canada quarterly release. The gain adds to the 0.7 per cent growth in fourth quarter 2013.

“Our rates of productivity in recent reporting have been alarming so it is nice to see even modest investment in innovation at the plant level,” said Canadian Manufacturers and Exporters President and CEO Jayson Myers. “As well, a weakend dollar should continue to support the ongoing efforts to entice investment to our manufacturers and to push non-exporting companies to investigate exporting opportunities.”

Overall exports were down 0.6 per cent with imports also falling 1.9% for the first three months of 2014. Export growth had been seen for five consecutive quarters previous to the report. Motor vehicles and parts were major contributors to declines in both import and export data.

Export prices were up 5.3 per cent, leading to the 0.6 per cent overall increase in real gross domestic income. Import prices also rose sharply at 4.1 per cent, their biggest increase since 2008. 

Manufacturing output was up 0.3 per cent in March, according to monthly data included in the release helping the monthly GDP number up 0.1 per cent.

Found in: StatsCan gdp

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