Canadian Economy Expands at 1.7% in Q3

The Canadian economy expanded at an annualized rate of 1.7 per cent in the third quarter of 2017 as weaker exports applied downward pressure on growth.

Statistics Canada says the increase in real gross domestic product was driven by a one per cent expansion in household spending.

But it says exports fell on a quarter-over-quarter basis of 2.7 per cent, which included a 3.4 per cent decline in goods exports that followed three quarters of growth.

The statistical agency also made a downward revision to Canada’s real GDP growth for the second quarter — dropping it to an annualized rate of 4.3 per cent compared with its initial reading of 4.5 per cent.

Economists had expected growth in the third quarter to come in at an annualized rate of 1.6 per cent, according to Thomson Reuters.

via CBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza