Economy Grew Slightly in Third Quarter

Household spending rise, increasing demand for exports


Statistics Canada says the economy grew at an annual rate of 5.4 per cent in the third quarter this year.

The economy which shrank in the second quarter saw its growth come back which was mostly felt in household spending as restrictions were eased causing a higher demand for exports.

The quarter ended with the economy edging up slightly by 0.1 per cent in September.

Stats Canada says the total economic recovery was about 0.5 per cent below the pre-pandemic level which was recorded in February of 2020.