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Canadian economy shrank 1.1 per cent in Q3: Statistics Canada
BY The Canadian Press, Nov 30, 2023 5:17 PM - REPORT AN ERROR
A decrease in international exports and slower inventory accumulation by businesses were partially offset by increases in government spending and housing investment. (Photo: The Canadian Press)
Statistics Canada says the economy shrank 1.1 per cent on an annualized basis in the third quarter.
A decrease in international exports and slower inventory accumulation by businesses were partially offset by increases in government spending and housing investment.
StatCan also revised up its reading for real gross domestic product in the second quarter. It says the economy didn't shrink, but instead grew by 1.4 per cent on an annualized basis.
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