After brief contraction, Canada's economy grew again in third quarter

After brief contraction, Canada's economy grew again in third quarter
© Pierre-Paul Couture/CBC Spending on personal grooming services like haircuts exploded in the summer months, Statistics Canada reported Tuesday.

Canada’s gross domestic product expanded by 1.3 per cent from July to September, as the end of some pandemic restrictions helped boost consumer spending and exports.

Statistics Canada said Tuesday that the total value of all goods and services was $2.093 trillion in the quarter, seasonally adjusted at an annualized rate.

That’s up from $2.066 trillion in the previous three-month stretch, when the economy contracted for the first time since the early days of COVID-19.

A jump in consumer spending was the biggest reason for the overall increase, with households spending more on semi-durable goods (up 14 per cent) as well as services (up six per cent).

Semi-durable goods are items that last longer than short-term consumables like food, but not as long as durable goods such as appliances.

A good example of a semi-durable good would be an item of clothing, and spending on those increased by almost 27 per cent during the quarter. Spending on footwear also surged by more than 30 per cent, which means Canadians are now spending more on clothes and shoes than they were before the pandemic.


Video: Housing prices worsening Canada’s wealth gap (cbc.ca)

There was also a surge in spending on services that Canadians had been delaying during the pandemic. 

Things like transportation services, which includes flight tickets, rose by more than 40 per cent, while spending on recreation and cultural activities went up by 26 per cent. 

Spending on food, beverages and accommodation went up by 29 per cent, while personal grooming services, such as haircuts, jumped by more than a third.

Good but not great

TD Bank economist Sri Thanabalasingam said that overall the numbers were good, but they could have been even better were it not for ongoing supply chain issues with big-ticket items.

“Hampered by global supply chain disruptions, consumers spent less on durable goods, specifically automobiles, and businesses invested less in machinery and equipment,” he said. “If not for supply shortages, GDP growth could have been even stronger in the third quarter.”

Ima Sammani, a market analyst with foreign exchange firm Monex, said that the data was generally positive, but largely redundant due to events that have happened since the end of September.

“Despite the significantly stronger GDP print than expected, the market reaction was relatively mild given … new concerns around the growth momentum have arisen following the discovery of the omicron variant,” she said.

News Related

OTHER NEWS

Elias Melkersen gets Hibs green light as Norwegian striker's work permit is sorted

© Elias Melkersen finally has his work permit The 19-year-old had been left in limbo as he waited for the green light to play following his move from Norwegian champions ... Read more »

Tottenham make bid for non-league Lewes FC youngster Lewis Tanner

© Tottenham Hotspur FC via Getty Images AntonioConte1201A Tottenham have made a bid for non-League starlet Ollie Tanner of Lewes FC. The 19-year-old winger has been training with Spurs’ development ... Read more »

Nicola Sturgeon: I feel responsibility to be open about the menopause

© Andrew Milligan First Minister Nicola Sturgeon spoke about the menopause and whether she experiences imposter syndrome (Andrew Milligan/PA) Nicola Sturgeon has opened up about the prospect of going through ... Read more »

Liberal MP George Chahal fined $500 for taking Tory election leaflet from front door

OTTAWA — MP George Chahal says he has paid a $500 fine after taking an opponent’s pamphlet from a front door and replacing it with his own during last year’s ... Read more »

D.C. United sign defender Hayden Sargis from Sacramento Republic FC

D.C. United acquired defender Hayden Sargis from USL Championship side Sacramento Republic FC, the club announced Monday. © Provided by 90min D.C. United sign Hayden Sargis, a defender that is ... Read more »

Anthony Martial transfer: Sevilla loan exactly what Man Utd forward needs

Anthony Martial needs the fresh start that a loan move to Sevilla will provide, having seen his career at Old Trafford suddenly stall and ultimately stagnate over the last 18 ... Read more »

Will Always Give My Best Performance for India: Neeraj Chopra after Being Honoured with and Padma Shri

© Provided by News18 Neeraj Chopra Second Most Mentioned Athlete on Facebook During Olympics 2020 Neeraj Chopra took to social media to thanks Indians for ‘their support and blessings’ after he was honoured with ... Read more »

Shehnaaz Gill shares Sidharth Shukla's family's statement: ‘Please reach to us if you want to use his name'

The sudden demise of actor Sidharth Shukla had left his fans and family heartbroken. On Tuesday evening, his family issued a statement where they requested everyone to reach out to ... Read more »

How to Groovy a card in Disney Twisted-Wonderland

© Provided by GamePur If you’ve played gacha games with cards before, you may be familiar with the blooming. Blooming is when you can evolve a card, making it more ... Read more »

Philippine lady booters bow to Australians

© AFC.com Philippine lady booters bow to Australians MANILA, Philippines — The Philippines suffered a 4-0 defeat at the hands of heavy favorite Australia last Monday in Mumbai, India but ... Read more »

WithU Yamaha RNF Team Drapes YZR-M1 In New Colors For 2022

© RideApart.com Copyright 2022 WithU Yamaha RNF Team – Duo Darryn Binder and Andrea Dovizioso will ride for the new satellite squad The Petronas Yamaha Sepang Racing Team burst onto ... Read more »

Former Bengal CM Buddhadeb Bhattacharya Refuses Padma Bhushan, Says ‘No One Told Me About It'

© Provided by News18 Former Bengal CM Buddhadeb Bhattacharya Refuses Padma Bhushan, Says ‘No One Told Me About It’ As the list of Padma awardees came out on Tuesday, one ... Read more »

Valve will reportedly combine Americas, EU-CIS, and Oceania-Asia for offline RMR events in 2022

© Provided by Dot Esports Ahead of the upcoming Regional Major Rankings cycle that determines the participants of the 2022 Valve-sponsored CS:GO Majors, Valve is making a handful of changes ... Read more »

Bade Achhe Lagte Hain 2, 25th January 2022, Written Update: Shubham hits Akshay

© Provided by Pinkvilla In today’s episode, Meera tells Sara to take Akshay home. Priya cries and tells Meera that Anjali framed Akshay. Meera tells her that she believes her ... Read more »

Apex Legends Cheaters Have New Hacks to Get Full Armor Instantly

A new Apex Legends hack allows cheaters to armor swap and equip attachments out of death boxes almost instantly. While armor swapping is a hard but useful tactic to master ... Read more »

Guinness World Records recognizes Russian YouTuber as making world's first retractable lightsaber

Alex Burkan’s lightsaber produces a 3-foot plasma blade that’s inspired by ‘Star Wars‘ movies. Guinness World Records Movie magic has been brought to life with the world’s first retractable lightsaber.  YouTuber ... Read more »

My husband's cheated with four other women – but always comes crawling back

DEAR DEIDRE: MY husband tosses me aside like a rag doll when a new woman turns his head. Sadly, it’s a familiar pattern. We are both 52, we’ve been married ... Read more »

Top 5 Players to Watch on Canada's Men's Olympic Team

Canada unveiled its 25-player roster for Beijing, bringing a mix of savvy veterans and young guns alike. Here’s a look at five key players to keep an eye on for ... Read more »

Kawasaki Updates Engine Oil To Help Get A Jump On 2022 Maintenance

© RideApart.com Kawasaki Performance Oils Is it time for a change? It’s the end of January, 2022, which means it’s prime riding season in the southern hemisphere, and prime maintenance ... Read more »

Kanye West and Julia Fox make a trendy debut in matching denim at Men's Fashion Week

© Provided by Independent Online (IOL) According to People Magazine, on Sunday, Kanye West and Julia Fox attended the KENZO fashion show as part of Paris Men’s Fashion Week in ... Read more »

Behind Every Successful Man...

Celebrities often date and marry their fellow public figures. We suppose that at some level it is just easier to be understood by someone who faces the same pressures of ... Read more »

Taylor Lautner Talks 'Twilight' Resurgence and 'Home Team' (Exclusive)

© Charley Gallay/Getty Images Taylor Lautner is reflecting on how Twilight is finding a new audience. The 29-year-old actor told ET’s Matt Cohen how he feels about the franchise that made him famous experiencing ... Read more »

Chelsea 'are negotiating a deal for Ousmane Dembele'

Chelsea ‘are negotiating a deal for Ousmane Dembele‘ and may have already reached an agreement for the wantaway Barcelona star.  Dembeles relationship with the club has always been fractious but ... Read more »

Jonnny May's participation in Six Nations to hinge on visit to specialist this week

© Andrew Fosker INPHO Jonny May. JONNY MAY’S PARTICIPATION in England’s Guinness Six Nations hinges on a visit to a specialist this week, with the Gloucester wing set to miss ... Read more »

Defender Lukas MacNaughton joins Toronto FC after CPL title run with Pacific FC

Toronto FC continued to rebuild its roster Tuesday, acquiring defender Lukas MacNaughton from Canadian Premier League champion Pacific FC for an undisclosed transfer fee. © Provided by The Canadian Press ... Read more »

Families to be £435 better off each year if Rishi Sunak reforms property tax, says Tory MP

HOUSEHOLDS would be £435 better off each year on average if Ministers introduced a revamped property levy. Chancellor Rishi Sunak is today urged to rip up the existing levies and ... Read more »

Buffett's Berkshire will hold in-person shareholders meeting in 2022

Berkshire CEO Warren Buffett will hold the meeting in person with the option of attending online. AP Warren Buffett’s company plans to hold its annual shareholders meeting that used to ... Read more »

Alabama Amazon warehouse workers tilting pro-union, labor reps say

Amazon warehouse employees in Bessemer, Ala. are considering whether to sign a union contract. AFP via Getty Images The Amazon warehouse in Alabama where workers voted down a union last ... Read more »

Lancaster student allegedly made to pay for his own replacement door after it was vandalised with racist slur

© Sa’ad Muṣṭafā/TikTok Lancaster student allegedly made to pay for his own replacement door after it was vandalised with racist slur A Lancaster University student was allegedly told he had ... Read more »

Former Bengal CM Buddhadeb Bhattacharya Refuses Padma Bhushan, Says ‘No One Told Me Anything About It'

© Provided by News18 Former Bengal CM Buddhadeb Bhattacharya Refuses Padma Bhushan, Says ‘No One Told Me Anything About It’ As the list of Padma awardees came out on Tuesday, ... Read more »

Fears 'thousands' of bottles, slippers and a wheelbarrow blocking river will flood playgroup

A West London river has been blocked by mountains of dumped rubbish from ‘thousands of bottles’ to a wheelbarrow and even an oil drum. The litter pile also includes a ... Read more »

"Special" 56-goal "fighter" gives West Ham transfer the green light, GSB must now act - opinion

© Provided by Football FanCast Jesse Lingard Premier League – West Ham United v Tottenham Hotspur West Ham United have been handed a huge boost in their bid to bring ... Read more »

"I understand" - Journalist drops fresh Aaronson to Leeds update

© GiveMeSport Leeds United manager Marcelo Bielsa RB Salzburg do not want to sell attacking midfielder Brenden Aaronson this month, but that could change if Leeds United present an irresistible offer, ... Read more »

27,000 Covid patients in home isolation, strictly monitoring their condition: PCMC

© Provided by The Indian Express EVEN AS the industrial city of Pimpri-Chinchwad has over 27,500 Covid-19 patients in home isolation, not a single patient has required any emergency help ... Read more »

Liverpool trio join forces for golf's Dubai Desert Classic Pro-Am during winter break

Liverpool FC stars James Milner, Alex Oxlade-Chamberlain and Andy Robertson were just a few of many big names competing in the Dubai Desert Classic Pro-Am on Tuesday. The Premier League ... Read more »

Report: NUFC 'ready' to make fresh bid for 29-goal star who's evoked Harry Potter comparisons

© Provided by Transfer Tavern Robin Gosens celebrates scoring for Germany Newcastle United are preparing to make a second bid for Atalanta’s Robin Gosens after their first offer was rejected, ... Read more »

Video ‘will show three Minneapolis officers violated George Floyd's rights'

Prosecutors have played video from a police body camera as witness evidence resumed at the federal civil rights trial of three former Minneapolis police officers accused of violating George Floyd’s ... Read more »

TOWIE's Demi Sims follows in sister Chloe's footsteps as she embraces 'natural' look

The Sims sisters have never been shy to admit that they have dabbled in tweakments throughout the years. But now, TOWIE star Demi, 25, has decided to embrace a “more ... Read more »

FTSE 100 gains as European markets recover despite Wall Street slump

© Kirsty O’Connor London Stock Exchange (Kirsty O’Connor/PA) The FTSE recovered some ground from Monday’s bruising session as it benefited from strength among banking and commodity stocks. Markets across Europe ... Read more »

A year after the meme stock saga began, GameStop has only downside ahead and could fall another 59%, research chief says

© Photo illustration by Jakub Porzycki/NurPhoto via Getty Images Photo illustration by Jakub Porzycki/NurPhoto via Getty Images Meme stocks remain “dangerously overvalued,” New Constructs CEO David Trainer said. GameStop could ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic