Canadian Economy Grew During Third Quarter

Tuesday, 29 November 2022 12:20

By Linda Morgan

Statistics Canada is reporting a 0.7 percent increase in the GDP.

The Canadian economy is continuing to show some modest growth.

Statistics Canada says during the third quarter, the GDP grew by 0.7 percent.

The growth was led by an increase in exports, which was driven by a jump in crude oil exports.

Other contributing factors include increases in non-residential structures and business investment in inventories.

However, the growth was offset by decreases in household spending and housing investments.

More from Local News

Province Investing Against Invasive Species

The $2-million will help the Niagara region
Niagara Driver Charged with Drug Impairment

OPP say this happened on Highway 17, when a car was seen weaving all over the road
Welland Man Arrested for Child Porn

Police say they noticed child sexual abuse material shared on a social media page early this month
28 More Doctors Hired in Niagara

The region and Niagara Health coordinating new partnership to find even more doctors
Killed Police Officers Honoured by NRP

Police Chief praised Niagara members for standing at attention in 'pounding rain'
Niagara Wineries Shuttle Service Possible

The CUTRIC hopes the province supports helping people move among wineries
Canal Days Vendors Warned of Scams

The City of Port Colborne says criminals are sending fraud emails for payment
Niagara Falls Exploring Hub to Help Homeless

Former CAO Ken Todd has been meeting with community groups