Daily Update (Source: RBC Financial Group
Canadian real GDP growth exceeded expectations in the second quarter
Aug 29, 2014
- Real gross domestic product (GDP) grew at a 3.1% annualized pace in the second quarter of 2014, thereby beating market expectations for a 2.7% gain.
- Stronger consumption and residential construction activity were supplemented by a surge in exports.
- Inventory growth slowed in the second quarter of 2014 and trimmed 1.8 percentage points from the quarterly growth rate.
- On a monthly basis, real GDP rose by 0.3% in June 2014, which was slower than Mayís revised 0.5% increase although faster than the 0.1% gain recorded in March and April, and market expectations for a 0.2% increase.
- Todayís report confirmed that the economyís rebound in the second quarter and July data reported so far
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