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Alexander Chute Economist
Tel: 902-424-5810Email:

March 02, 2018

For 2017, real GDP rose 3.0 per cent following growth of 1.4 per cent in 2016. Growth was faster in the first half of the year than the second half. Final domestic demand was steady throughout the year with growth of 3.0 per cent. Household final consumption was up 3.5 per cent with growth in both goods (+3.9%) and services (+3.2%). Vehicles and insurance and financial services were strong contributors to growth. Business fixed capital formation rose 2.6 per cent after declining in 2016 and 2015 on machinery and equipment (+6.0%) spending while non-residential structures were up only 0.3 per cent. Residential investment increased 3.1 per cent a similar pace as last year. Inventories contributed to growth with an accumulation of $13.9 billion. Real exports were up 1.0 per cent for the second consecutive year while imports grew 3.6 per cent after declining in 2016.

In nominal terms, compensation of employees was up 3.9 per cent contributing to a 4.8 per cent increase in household disposable income. Gross operating surplus increased 9.5 per cent from earnings at both non-financial and financial corporations.




CANSIM Table 380-0064

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