The Economics and Statistics Division maintains archives of previous publications for accountability purposes, but makes no updates to keep these documents current with the latest data revisions from Statistics Canada. As a result, information in older documents may not be accurate. Please exercise caution when referring to older documents. For the latest information and historical data, please contact the individual listed to the right.
<--- Return to Archive
For additional information relating to this article, please contact:
August 30, 2018CANADIAN ECONOMIC ACCOUNTS Q2 2018 
Real gross domestic product (GDP) grew 2.9 per cent (all figures seasonally adjusted at annual rates) in Canada in the second quarter, following growth of 1.4 per cent in the first quarter and 1.7 per cent in the fourth quarter of 2017. Final domestic demand was up by 2.1 per cent.
Growth in household final consumption grew 2.6 per cent in Q2 2018 following growth of 1.0 per cent in the first quarter. Increased outlays on services were the largest contributor to growth at 3.2 per cent. Goods growth was 1.9 per cent.
Investment in residential structures increased 1.1 per cent despite the continued decline in ownership transfers costs. New constructions declined for the first time since Q3 2016, which was more than offset by increased renovations activity. Investment growth in non-residential structures (2.2 per cent), machinery and equipment(1.4 per cent), and intellectual property products (1.0 per cent) all decelerated sharply in the second quarter.
Export growth accelerated with a gain of 12.3 per cent in Q2 following growth of 2.4 per cent Q1. Goods exports were up 15.1 per cent with notable increases in energy products and consumer goods. Exports of services declined 0.6 per cent. Imports increased 6.5 per cent in Q2 2018.
Inventories continued to accumulate with Canadian businesses adding $13.4 billion in inventories following on accumulation of $16.0 billion in Q1 2018. Wholesalers and manufacturers were the largest contributors to this quarter's accumulation, while retail inventories declined.
The overall price level of goods and services produced in Canada (the GDP implicit price index) increased 2.1 per cent in the second quarter after rising 1.7 per cent in Q1 2018. Canada's terms of trade improved slightly over the first quarter. Nominal GDP increased 5.1 per cent in the quarter. On an annualized basis, compensation of employees increased 2.9 per cent and corporate net operating surplus was up 11.8 per cent. The household saving rate fell 0.5 percentage points to 3.4 percentage points as household spending outpaced disposable income.
Source: Statistics Canada Tables 36-10-0103-01 and 36-10-0104-01
<--- Return to Archive
