Canada’s economy expanded by 0.3% qoq in Q3, down from 0.5% qoq growth recorded in Q1 and Q2.
Household and government spending provided support to overall GDP, but their contributions were offset by slower non-farm inventory accumulation, reduced business capital investment, and a decline in exports.
On a per capita basis, GDP contracted by -0.4% qoq in Q3, marking the sixth consecutive quarterly decline.
Monthly GDP growth for September came in at a modest 0.1% mom, missing expectations of 0.3% mom.
