Ottawa (ANTARA) – Canada’s real gross domestic product (GDP) fell 0.3 percent in the third quarter of 2023, following an increase of 0.3 percent in the second quarter, Statistics Canada announced Thursday (30/ 11).
Declining international exports and slowing inventory accumulation were partially offset by increased government spending and real estate investment.
Final domestic demand rose 0.3%, following a similar increase in the second quarter, the country’s national statistics agency said.
The public sector grew 0.9 percent in the third quarter, up for the 13th consecutive quarter and was the largest contributor to growth, driven in part by a rebound in activity in the federal public administration. to the impact of strikes from the previous quarter, the agency said.
According to the agency, real GDP increased slightly by 0.1 percent in September. Goods-producing industries led the growth with the first increase in six months, while service-producing industries were essentially unchanged.
Preliminary information indicates that real GDP increased by 0.2 percent in October. Increases in the mining, quarrying, oil and gas extraction, retail trade and construction sectors were partially offset by declines in the wholesale trade sector, it said. Statistics Canada.
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