Canada's real GDP increases 0.5% in 2nd quarter

By Ovunc Kutlu

ISTANBUL (AA) - Canada's real gross domestic product (GDP) rose 0.5% in the second quarter of this year, the country's statistical body said Friday.

Real GDP increased 0.4% in the first quarter.

"Higher government final consumption expenditures, business investment in engineering structures and machinery and equipment, and household spending on services in the second quarter were moderated by declines in exports, residential construction and household spending on goods," Statistics Canada said in a statement.

In the second quarter of 2024, government expenditures rose 1.5%, while business spending on machinery and equipment increased 6.5%, it added.

Growth in household spending slowed to 0.2% in the April-June period, after rising 0.9% in the January-March period, according to the agency.