Statistics Canada released third-quarter gross domestic product (GDP) figures on Friday (November 28). The data showed that the economy grew by 0.6 percent over the three-month period, following a 0.5 percent decrease in the preceding quarter. The agency attributed the gain to lower imports and higher exports. Leading declines were caused by a drop in imports of unwrought precious metals, industrial machinery, equipment and parts, while exports of crude oil and bitumen increased 6.7 percent. Government capital investments were also up, gaining 2.9 percent, headlined by an 82 percent increase in spending on weapon systems. However, private sector investment was essentially flat, with an increase in residential and engineering structures offset by declines in machinery and equipment, non-residential building and intellectual property. The agency also released a more detailed monthly breakdown of GDP by industry. In September, the oil and gas subsector posted growth of 1.3 percent while support activities…
