Global Markets: Canadian economy grew by 1.3 per cent in Q3

By MarketsFarm

WINNIPEG, Nov. 28 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Canada’s economy slowed sharply in the third quarter of 2019 due to reduced exports and lowered business inventories. Gross domestic product (GDP) grew at 1.3 per cent from July to the end of September, which was in line with economists’ estimates, according to Statistics Canada. Despite weakness in the trade sector and overall sluggish economic growth, the report detailed a strong market for jobs and housing, which points toward a strong economy.

– Of the 1.3 per cent annualized growth rate for Canada’s economy in Q3, 0.9 per cent of that growth was due to real estate, according to Statistics Canada. Housing investment rose 3.2 per cent, which is the highest rate since early 2012. Business investments were also up by 1.4 per cent, from 1 per cent the week prior.

– India’s economy grew at the weakest pace in over six years in Q3, meeting most economists’ expectations. GDP rose by 4.5 per cent, compared to five per cent in the previous quarter. The slowdown to the large economy was chalked up to lowered consumer spending, fewer business investments, and lowered export demand.

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