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- Canada's GDP declines 0.1% in the second quarter
Canada's GDP declines 0.1% in the second quarter
Statistics Canada released GDP (gross domestic product) growth data on Tuesday. Canada's GDP growth rose 0.5% in June, exceeding expectations for a 0.2% increase, after a 0.2% drop in May.
On a quarterly basis, GDP fell 0.1% in the second quarter, missing expectations for a 0.2% rise, after 0.2% decline in the first quarter. The first quarter's figure was revised down from a 0.1% decrease.
Household final consumption expenditure was up 0.6% in the second quarter as spending on durable goods and semi-durable goods rose.
Final domestic demand was flat in the second quarter.
Exports of goods and services rose 0.1% in the second quarter, while imports of goods and services declined 0.4%.
The mining, quarrying and oil and gas extraction sector plunged 4.5% in the second quarter.
Business gross fixed capital formation dropped 2.0% in the second quarter.
On a yearly basis, GDP declined 0.5% in the second quarter, beating expectations for a 0.5% fall, after 0.8% drop in the first quarter. The first quarter's figure was revised down from a 0.6% decline.
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