Notizie economiche
30.08.2024

Canada’s economy advances 0.5 per cent q-o-q in Q2 2024

Statistics Canada announced on Friday that the country’s gross domestic product (GDP) was flat m-o-m in June after a downwardly unrevised 0.1 per cent m-o-m gain (from +0.2 per cent m-o-m) in May. This was worse than economists’ forecast of a 0.1 per cent m-o-m uptick.

In the second quarter of 2024, the Canadian GDP grew 0.5 per cent q-o-q, following an unrevised 0.4 per cent q-o-q expansion in the first quarter. This marked the strongest quarterly advance in real GDP since the first quarter of 2023 (+0.6 per cent q-o-q). 

According to the report, the GDP’s q-o-q increase reflected higher government final consumption expenditures, business investment in engineering structures and machinery and equipment, and household spending on services, which were moderated by decreases in exports, residential construction and household spending on goods.

Expressed at an annualized rate, Canada’s GDP expanded 2.1 per cent in the second quarter after an upwardly revised 1.8 per cent increase (from +1.7 per cent) in the previous quarter. This represented the strongest annual expansion since the first quarter of 2023 (+2.6 per cent y-o-y) and was slightly above economists’ prediction of a 1.6 per cent y-o-y advance.

Also, Statistics Canada revealed that preliminary data indicates that real GDP remained unchanged m-o-m in July.

Guarda anche