Canada GDP rises 2.7 per cent in Q3
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Canada's economy expanded 2.7 per cent in the third quarter, beating analyst expectations and shaking off concerns about the country's ability to pick up slack following a sluggish performance earlier this year.
Statistics Canada said mining and oil and gas extraction drove the increase, rising 2.2 per cent in the July-September period, following 2.3-per-cent drop in the second quarer.
Manufacturing, retail and the financial services industry also saw gains.
The third quarter is a good time for spending given that it's back-to-school shopping season and as companies pick up activity following the summer vacation season.
Business investment grew by a half a per cent in the third quarter, after falling by the same amount in the April-June period.