• ITVI.USA
    14,054.150
    145.300
    1%
  • OTRI.USA
    21.680
    -0.360
    -1.6%
  • OTVI.USA
    14,029.830
    142.650
    1%
  • TLT.USA
    2.640
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.540
    0.060
    2.4%
  • TSTOPVRPM.CHIATL
    2.460
    0.270
    12.3%
  • TSTOPVRPM.DALLAX
    1.360
    -0.040
    -2.9%
  • TSTOPVRPM.LAXDAL
    2.910
    0.180
    6.6%
  • TSTOPVRPM.PHLCHI
    1.490
    0.050
    3.5%
  • TSTOPVRPM.LAXSEA
    3.130
    0.260
    9.1%
  • WAIT.USA
    108.000
    5.000
    4.9%
  • ITVI.USA
    14,054.150
    145.300
    1%
  • OTRI.USA
    21.680
    -0.360
    -1.6%
  • OTVI.USA
    14,029.830
    142.650
    1%
  • TLT.USA
    2.640
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.540
    0.060
    2.4%
  • TSTOPVRPM.CHIATL
    2.460
    0.270
    12.3%
  • TSTOPVRPM.DALLAX
    1.360
    -0.040
    -2.9%
  • TSTOPVRPM.LAXDAL
    2.910
    0.180
    6.6%
  • TSTOPVRPM.PHLCHI
    1.490
    0.050
    3.5%
  • TSTOPVRPM.LAXSEA
    3.130
    0.260
    9.1%
  • WAIT.USA
    108.000
    5.000
    4.9%
CanadaEconomics

Exports boost Canada’s economy

GDP growth hits 3.7 percent on trade surge, but patches of weakness in householding and business spending paint a mixed picture.

The growth of Canada’s economy hit 3.7 percent in the second quarter of 2019 as a surge in exports offset weaker domestic demand.

Trade largely fueled the increase in real gross domestic product (GDP) reported by Statistics Canada on August 30. Broad strength in exports included a 3.7 percent increase in goods and a 5.9 jump in energy.

But weakness appeared with a slowdown in the growth of household spending to 0.1 percent and a decline in non-residential business investment.

“The picture that emerges is hardly one of strength,” TD analyst Brian DePratto wrote

DePratto noted that the trade increase largely came from a jump in May. 

“This was a ‘less than meets the eye’ report,” he wrote. 

A separate Statistics Canada report tracking economic activity by industries showed the transportation and warehousing sector declining by 0.2 percent in June.

Performance by mode was mixed. Trucking by grew 0.36 percent, but rail declined by 2.3 percent.

Tags
Show More

Nate Tabak, Border and North America Correspondent

Nate Tabak is a Toronto-based journalist who covers cross-border trucking, logistics and trade for FreightWaves. Before moving to Canada, he spent seven years reporting stories in the Balkans and Eastern Europe as a reporter, producer and editor based in Kosovo. He previously worked at newspapers in the San Francisco Bay Area, including the San Jose Mercury News. He graduated from UC Berkeley, where he studied the history of American policing. Contact Nate at ntabak@freightwaves.com.
Close