Statistics Canada released GDP (gross domestic product) growth data on Tuesday. Canada’s GDP growth declined 0.2% in March, missing expectations for a 0.1% fall, after a 0.1% decrease in February.
On a quarterly basis, GDP rose 0.6% in the first quarter, after a 0.1% gain in the fourth quarter. The fourth quarter’s figure was revised down from a 0.2% gain.
The quarterly rise was driven by exports. Exports of goods and services jumped 1.7% in the first quarter, while imports of goods and services rose 0.3%.
Final domestic demand increased 0.3% in the first quarter, after a 0.1% fall in the fourth quarter.
Household final consumption expenditure was up 0.6% in the first quarter as spending on goods rose 1.1% in the first quarter.
The household saving rate was 3.9% in the first quarter.
Business gross fixed capital formation declined 0.4% in the first quarter.
On a yearly basis, GDP climbed 2.4% in the first quarter, missing forecasts of a 2.9% increase, after 0.5% rise in the fourth quarter. The fourth quarter’s figure was revised down from a 0.8% increase.
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