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Statistics Canada released third quarter GDP numbers today

Published by Frank Defalco on November 29, 2013

Statistics Canada released today its gross domestic product (GDP) report for third quarter 2013.

Third quarter real GDP expanded 0.7%, an improving from 0.4% growth from the second quarter. September real GDP grew for a third consecutive month. 

The good news was an increase in manufacturing and major services, which were responsible for most of the overall gains to GDP in the third quarter. Investment on plant and equipment increased 0.6% following a decline 0.3% in the second quarter. However, exports were down 0.5% mostly because of metal and non-metallic mineral products (-4.5%) and transportation equipment and parts (-9.1%) but they were slightly offset by an increase in exports of energy products by 2.8%. 

“We are certain that with the recent Harper government initiatives of the Global Markets Action Plan and the Comprehensive Economic and Trade Agreement (CETA) that real GDP growth will continue rising especially in manufacturing and exports,” says CME President and CEO Jayson Myers.

For the complete Statistics Canada report go to, http://www.statcan.gc.ca/daily-quotidien/131129/dq131129a-eng.htm?HPA

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