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.
Freight Fraud Symposium
Double brokering. AI deepfakes. Identity theft. Freight fraud is an existential threat to the industry. Get ahead of it.
Supply Chain AI Symposium
Past the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
Future of Rail Symposium
Reshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
Double brokering. AI deepfakes. Identity theft. Freight fraud is an existential threat to the industry. Get ahead of it.
Rock & Roll Hall of Fame • Cleveland, OH Register NowPast the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
The Old Post Office • Chicago, IL Register NowReshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now