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Canadian real GDP posts first positive growth in a year

Updated:2009-12-01 14:56:29

Real gross domestic product (GDP) of Canada increased 0.1 percent in the third quarter, the first quarterly gain since the third quarter of 2008, according to Statistics Canada on Monday.

Domestic demand, including consumer spending, housing, government spending and even business investment, performed better than the previous quarter.

Final domestic demand advanced 1.2 percent, as capital investment and personal expenditures both increased. Real GDP was up 0.4 percent in September, as most major industrial sectors increased their production, according to Statistics Canada.

"Although the third quarter's GDP gain was softer than expected," said Christy Chen, economist from Bank of Montreal, "it couldn't alter the big picture that the Canadian economy is gridding out of recession, led by solid growth in domestic spending. At the same time, monthly real GDP growth came in at 0.4 percent, higher than a consensus call of 0.3 percent."

 

Source:http://news.xinhuanet.com

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