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Macroeconomics  |  August 31, 2012 16:10:00

The Canadian economy grew in the second quarter by 1.8 pct


Canada's gross domestic product grew in the second quarter of this year annualized 1.8%, the same rate as in the first quarter, said the preliminary estimate of the Statistical Office. For comparison, U.S. GDP in the same quarter increased by 1.7%. Quarter real economy grew by 0.5%, the same as in the first quarter and the fourth quarter of 2011.

GDP promote spending on household final consumption and investment spending. Final consumption expenditure of households grew by 0.3%, faster than the 0.2% in the first quarter.General government expenditure fell by 0.1%, following a decrease of 0.5% in the previous quarter. Fixed investment grew by 1.3%, after growth of 1.5% in 1Q. Exports of goods and services growth slowed from 1.0% to 0.2%, while import growth accelerated from 1.3% to 1.6%. Businesses increased inventories by $ 15.31 billion, compared with $ 8.32 in the first quarter. The output of the manufacturing sector grew by 0.6%, manufacturing sector by 0.5%, construction 1.3% and the service sector by 0.5%.

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