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Third quarter 2010 and September 2010 (Previous release)

Real gross domestic product (GDP) rose 0.3% in the third quarter, following a 0.6% gain in the previous quarter. Final domestic demand grew 0.9%, as business investment in plant and equipment advanced. On a monthly basis, real GDP by industry declined 0.1% in September.

 Final domestic demand outpaces gross domestic product

Note to readers

Additional data tables are available in the Canadian Economic Accounts Quarterly Review.

All data in this release are seasonally adjusted unless otherwise stated.

Percentage changes for expenditure-based and industry-based statistics (such as personal expenditures, investment, exports, imports, and output) are calculated from volume measures that are adjusted for price variations. Percentage changes for income-based and flow-of-funds statistics (such as labour income, corporate profits, mortgage borrowing, and total funds raised) are calculated from nominal values; that is, they are not adjusted for price variations.

There are four ways of expressing growth rates for gross domestic product (GDP) and other time series found in this release.

Unless otherwise stated, the growth rates of all quarterly data in this article represent the percentage change in the series from one quarter to the next, such as from the second quarter to the third quarter of 2010.

The quarterly growth can be expressed at an annual rate by using a compound growth formula, similar to the way in which a monthly interest rate can be expressed at an annual rate. Expressing growth at an annual rate facilitates comparisons to official GDP statistics from the United States. Both the quarterly growth rate and the annualized quarterly growth rate should be interpreted as an indication of the latest trend in GDP.

The year-over-year growth rate is the percentage change in GDP from a given quarter in one year to the same quarter one year later, such as from the third quarter of 2009 to the third quarter of 2010.

The growth rates of all monthly data in this article represent the percentage change in the series from one month to the next, such as from August to September 2010.

Business investment in plant and equipment recorded its strongest quarterly increase so far this year, as investment in machinery and equipment expanded 6.5% in the third quarter. An increase in consumer spending also contributed to the growth in final domestic demand.

Lower exports (-1.3%) and lower investment in housing (-1.3%) restrained GDP growth.

Expressed at an annualized rate, real GDP grew 1.0% in the third quarter, after expanding 2.3% in the second quarter. In comparison, real GDP in the United States grew 2.5% in the third quarter.

The increase in the goods-producing industries (+0.8%) significantly outpaced that of the services industries (+0.1%) for a fourth consecutive quarter.

Manufacturing, mining and the public sector were the main sources of growth in the third quarter. The increase in manufacturing was concentrated in the production of durable goods, while the strength in mining was attributable largely to higher activity at copper, nickel, lead, and zinc mines. Construction and retail trade also contributed to the overall increase in GDP. Conversely, decreases were recorded in the output of real estate agents and brokers, as well as in wholesale trade and in the finance and insurance sector.

Contributions to percent change in gross domestic product, third quarter 2010

Table 1

Real gross domestic product
  Change Annualized change Year-over-year change
  %
First quarter 2009 -1.8 -7.0 -2.5
Second quarter 2009 -0.7 -2.8 -3.2
Third quarter 2009 0.2 0.9 -3.1
Fourth quarter 2009 1.2 4.9 -1.1
First quarter 2010 1.4 5.6 2.1
Second quarter 2010 0.6 2.3 3.4
Third quarter 2010 0.3 1.0 3.4
Note(s):
The change is the growth rate from one period to the next. The annualized change is the growth rate compounded annually. The year-over-year change is the growth rate of a given quarter compared with the same quarter in a previous year.

Consumer spending growth remains steady

Consumer spending on goods and services advanced 0.9% in the third quarter, similar to the average growth of the previous five quarters. Consumers increased their purchases of services and their purchases of all three major categories of goods.

Expenditures on new and used motor vehicles grew 1.8% after two consecutive quarters of decline.

Purchases of clothing and footwear also bounced back after falling in the previous quarter.

Spending on furniture, furnishings, and household equipment and maintenance declined 0.6% after edging down 0.2% in the previous quarter.

Housing investment falls

Housing investment declined 1.3% in the third quarter, the first decline since the first quarter of 2009. Expenditure on ownership transfer costs related to housing resale activity was down 10%, on the heels of a 13% drop in the second quarter.

Business investment in plant and equipment expands

Business investment in plant and equipment expanded 4.6%. This was the third quarterly increase in 2010, and the first time that quarterly growth exceeded 4% since 2005.

Investment in machinery and equipment rose 6.5%, a third consecutive quarterly increase. The main contributors to the third-quarter gain were industrial machinery (+7.9%) as well as computers and other office equipment (+11%).

Investment in buildings and engineering projects grew 2.6%.

Investment in plant and equipment increase

The 8.7% year-over-year increase in business investment in plant and equipment was in sharp contrast to the 20% annual decline registered in 2009.

Exports decline while imports rise

Exports of goods and services declined 1.3% after four consecutive quarters of growth. The main contributors to the decline in goods exports were automotive products (-2.1%) and energy products (-8.5%), while commercial services (-1.7%) contributed the most to the decline in services exports.

Imports of goods and services were up 1.6%, the fifth consecutive quarterly increase. Machinery and equipment (+6.3%) contributed the most to the 2.4% increase in imported goods. Imports of services fell 2.1%, with declines in four out of five major categories.

Inventories increase again

Business inventories rose $18 billion in the third quarter, an accumulation similar to that recorded in the second quarter.

Manufacturers' inventories, especially inventories of durable goods, increased again in the third quarter. Wholesale trade inventories of both durable and non-durable goods, as well as the inventories of retail motor vehicle dealers, were up.

Agricultural inventories fell for a third consecutive quarter with lower crop production.

Businesses held inventories equivalent to 65 days of sales in the third quarter, the same as in the previous quarter. This was slightly higher than the average of 62 days recorded from 2004 to 2008. In 2009, sales declined more rapidly than inventories. As a result, businesses held, on average, inventories equivalent to 68 days of sales in 2009.

Prices rise

The price of goods and services produced in Canada rose 0.4% in the third quarter.

Overall, the price of final domestic demand was also up 0.4%. The price of engineering structures as well as the price of non-durable goods, such as food and non-alcoholic beverages, electricity, and tobacco products, were contributors to the increase in the price of final domestic demand. In contrast, there were lower prices for several products, notably renovations, clothing and footwear, and office equipment.

Purchasing power increases

Canada's real gross domestic income, a measure of purchasing power, edged up 0.1% in the third quarter. The increase in real GDP was offset mostly by a decline in Canada's terms of trade (-0.6%), which measures export prices relative to import prices.

Table 2

Real gross domestic income
  Change Annualized change Year-over-year change
  %
First quarter 2009 -3.5 -13.1 -6.6
Second quarter 2009 -0.2 -1.0 -8.3
Third quarter 2009 1.1 4.4 -7.1
Fourth quarter 2009 2.1 8.7 -0.6
First quarter 2010 1.9 7.8 4.9
Second quarter 2010 0.7 2.7 5.9
Third quarter 2010 0.1 0.3 4.8
Note(s):
The change is the growth rate from one period to the next. The annualized change is the growth rate compounded annually. The year-over-year change is the growth rate of a given quarter compared with the same quarter in a previous year.

Incomes up again

Nominal GDP expanded 0.7%. Labour income rose 0.9% as wages and salaries increased in both the goods-producing and services industries.

Corporate profits increased 0.7% in the third quarter, after a 0.6% decline in the previous quarter. Earnings results were mixed with notable increases in oil and gas extraction and motor vehicle parts manufacturing. Wholesale and retail trade industries were among those with lower earnings. Government business enterprise profits fell 3.9%.

Personal income increased 0.6%. Personal disposable income, however, declined 1.5% as income taxes paid returned to a more typical level. There were large income tax refunds in the second quarter and lower payments on filing related to the 2009 tax year.

The personal saving rate was 3.3% in the third quarter, following an unusually high 6.1% in the previous quarter.

The national saving rate was 4.7%, down from 5.6% in the second quarter. Government saving has been negative since the fourth quarter of 2008.

Financial flows: Financing activity decreases

Total funds raised by domestic non-financial sectors reached $195 billion (seasonally adjusted at annual rates) in the third quarter, down from $273 billion in the second quarter.

The decrease in overall borrowing by domestic non-financial sectors was concentrated in provincial and local governments, and was due mainly to net repayments of short-term paper. However, the federal government increased its borrowing through short-term paper, reversing the trend of the previous four quarters, where short-term paper had been repaid. Bond issuance by both the federal government and other levels of government declined in the third quarter.

Funds raised by non-financial private corporations amounted to $40 billion. Bond issuance was the major source of financing as share issuance and mortgage borrowing slowed.

Household borrowing increased slightly in the third quarter after decreasing in the previous quarter. Higher borrowing through loans and consumer credit accounted for the third-quarter increase. In contrast, mortgage borrowing declined with the slowdown in the resale housing market.

The non-resident sector continued to be a net lender to the domestic economy in the third quarter. This lending reflects Canada's quarterly current account deficit, which has continued since the fourth quarter of 2008. Non-resident investors continued to supply large inflows of funds to the economy through investment in Canadian securities, especially bonds.

Gross domestic product by industry, September 2010

Real gross domestic product declined 0.1% in September after a 0.3% increase in August. Output of the goods-producing industries decreased 0.7%, largely as a result of lower extraction of oil and natural gas, and reduced manufacturing activity. Increases at copper, nickel, lead and zinc mines and in utilities helped to offset the weakness in the production of goods. The service sector edged up 0.1%, with increases in the public sector, retail trade and accommodation and food services. Conversely, the finance and insurance sector as well as wholesale trade retreated.

Real gross domestic product declines in September

Mining and oil and gas extraction declined 2.0% in September. Oil and gas extraction fell 2.8%, with both natural gas and crude oil decreasing. Support activities for mining and oil and gas extraction declined as well, partly as a result of unfavourable weather. In contrast, output at copper, nickel, lead and zinc mines continued its recent upward trend after the end of labour disputes, returning to its level reached during the second quarter of 2009.

Manufacturing output declined 0.6% in September, with 10 of the 21 major groups contracting. Both durable goods (-0.8%) and non-durable goods (-0.4%) manufacturing were down. In particular, manufacturing of machinery, food products, transportation equipment, wood products and chemicals decreased. The output of primary metal products and printing increased.

The public sector (health, education and public administration combined) rose 0.2% in September. Retail trade increased by 0.5%, with higher activity recorded at general merchandise stores and at new car dealers. Retailers of building materials and garden equipment and supplies reported a decline, partly mirroring the weakness in residential construction in September.

The finance and insurance sector decreased by 0.7% in September, following a 0.4% increase in August. Weaker financial intermediation (personal and business loans, mortgages, mutual fund sales), lower activity at insurance carriers and a reduced volume of trading on the stock exchanges were contributing factors.

Main industrial sectors' contribution to the percent change in gross domestic product, September 2010

Products, services and contact information

Detailed analysis and tables

The National economic accounts module, accessible from the Key resource module of our website, features an up-to-date portrait of national and provincial economies and their structure.

Additional tables and links to other releases from the national accounts can be found in the third quarter 2010 issue of Canadian Economic Accounts Quarterly Review, Vol. 9, no. 3 (13-010-X, free). This publication is now available from the Key resource module of our website under Publications. This publication will be updated on December 14, at the time of the release of Labour productivity, hourly compensation and unit labour cost. Revised estimates of the Income and expenditure accounts for the first and second quarters of 2010 have been released, along with those for the third quarter of 2010. These estimates incorporate new and revised source data and updated estimates of seasonal patterns.

Gross domestic product by industry

Available on CANSIM: table 379-0027.

The Daily, Tuesday, November 30, 2010. Canadian economic accounts g/TR/xhtml1/DTD/xhtml1-strict.dtd"> The Daily, Tuesday, November 30, 2010. Canadian economic accounts
Statistics Canada
Symbol of the Government of Canada

Canadian economic accounts

Related subjects

Third quarter 2010 and September 2010 (Previous release)

Real gross domestic product (GDP) rose 0.3% in the third quarter, following a 0.6% gain in the previous quarter. Final domestic demand grew 0.9%, as business investment in plant and equipment advanced. On a monthly basis, real GDP by industry declined 0.1% in September.

 Final domestic demand outpaces gross domestic product

Note to readers

Additional data tables are available in the Canadian Economic Accounts Quarterly Review.

All data in this release are seasonally adjusted unless otherwise stated.

Percentage changes for expenditure-based and industry-based statistics (such as personal expenditures, investment, exports, imports, and output) are calculated from volume measures that are adjusted for price variations. Percentage changes for income-based and flow-of-funds statistics (such as labour income, corporate profits, mortgage borrowing, and total funds raised) are calculated from nominal values; that is, they are not adjusted for price variations.

There are four ways of expressing growth rates for gross domestic product (GDP) and other time series found in this release.

Unless otherwise stated, the growth rates of all quarterly data in this article represent the percentage change in the series from one quarter to the next, such as from the second quarter to the third quarter of 2010.

The quarterly growth can be expressed at an annual rate by using a compound growth formula, similar to the way in which a monthly interest rate can be expressed at an annual rate. Expressing growth at an annual rate facilitates comparisons to official GDP statistics from the United States. Both the quarterly growth rate and the annualized quarterly growth rate should be interpreted as an indication of the latest trend in GDP.

The year-over-year growth rate is the percentage change in GDP from a given quarter in one year to the same quarter one year later, such as from the third quarter of 2009 to the third quarter of 2010.

The growth rates of all monthly data in this article represent the percentage change in the series from one month to the next, such as from August to September 2010.

Business investment in plant and equipment recorded its strongest quarterly increase so far this year, as investment in machinery and equipment expanded 6.5% in the third quarter. An increase in consumer spending also contributed to the growth in final domestic demand.

Lower exports (-1.3%) and lower investment in housing (-1.3%) restrained GDP growth.

Expressed at an annualized rate, real GDP grew 1.0% in the third quarter, after expanding 2.3% in the second quarter. In comparison, real GDP in the United States grew 2.5% in the third quarter.

The increase in the goods-producing industries (+0.8%) significantly outpaced that of the services industries (+0.1%) for a fourth consecutive quarter.

Manufacturing, mining and the public sector were the main sources of growth in the third quarter. The increase in manufacturing was concentrated in the production of durable goods, while the strength in mining was attributable largely to higher activity at copper, nickel, lead, and zinc mines. Construction and retail trade also contributed to the overall increase in GDP. Conversely, decreases were recorded in the output of real estate agents and brokers, as well as in wholesale trade and in the finance and insurance sector.

Contributions to percent change in gross domestic product, third quarter 2010

Table 1

Real gross domestic product
  Change Annualized change Year-over-year change
  %
First quarter 2009 -1.8 -7.0 -2.5
Second quarter 2009 -0.7 -2.8 -3.2
Third quarter 2009 0.2 0.9 -3.1
Fourth quarter 2009 1.2 4.9 -1.1
First quarter 2010 1.4 5.6 2.1
Second quarter 2010 0.6 2.3 3.4
Third quarter 2010 0.3 1.0 3.4
Note(s):
The change is the growth rate from one period to the next. The annualized change is the growth rate compounded annually. The year-over-year change is the growth rate of a given quarter compared with the same quarter in a previous year.

Consumer spending growth remains steady

Consumer spending on goods and services advanced 0.9% in the third quarter, similar to the average growth of the previous five quarters. Consumers increased their purchases of services and their purchases of all three major categories of goods.

Expenditures on new and used motor vehicles grew 1.8% after two consecutive quarters of decline.

Purchases of clothing and footwear also bounced back after falling in the previous quarter.

Spending on furniture, furnishings, and household equipment and maintenance declined 0.6% after edging down 0.2% in the previous quarter.

Housing investment falls

Housing investment declined 1.3% in the third quarter, the first decline since the first quarter of 2009. Expenditure on ownership transfer costs related to housing resale activity was down 10%, on the heels of a 13% drop in the second quarter.

Business investment in plant and equipment expands

Business investment in plant and equipment expanded 4.6%. This was the third quarterly increase in 2010, and the first time that quarterly growth exceeded 4% since 2005.

Investment in machinery and equipment rose 6.5%, a third consecutive quarterly increase. The main contributors to the third-quarter gain were industrial machinery (+7.9%) as well as computers and other office equipment (+11%).

Investment in buildings and engineering projects grew 2.6%.

Investment in plant and equipment increase

The 8.7% year-over-year increase in business investment in plant and equipment was in sharp contrast to the 20% annual decline registered in 2009.

Exports decline while imports rise

Exports of goods and services declined 1.3% after four consecutive quarters of growth. The main contributors to the decline in goods exports were automotive products (-2.1%) and energy products (-8.5%), while commercial services (-1.7%) contributed the most to the decline in services exports.

Imports of goods and services were up 1.6%, the fifth consecutive quarterly increase. Machinery and equipment (+6.3%) contributed the most to the 2.4% increase in imported goods. Imports of services fell 2.1%, with declines in four out of five major categories.

Inventories increase again

Business inventories rose $18 billion in the third quarter, an accumulation similar to that recorded in the second quarter.

Manufacturers' inventories, especially inventories of durable goods, increased again in the third quarter. Wholesale trade inventories of both durable and non-durable goods, as well as the inventories of retail motor vehicle dealers, were up.

Agricultural inventories fell for a third consecutive quarter with lower crop production.

Businesses held inventories equivalent to 65 days of sales in the third quarter, the same as in the previous quarter. This was slightly higher than the average of 62 days recorded from 2004 to 2008. In 2009, sales declined more rapidly than inventories. As a result, businesses held, on average, inventories equivalent to 68 days of sales in 2009.

Prices rise

The price of goods and services produced in Canada rose 0.4% in the third quarter.

Overall, the price of final domestic demand was also up 0.4%. The price of engineering structures as well as the price of non-durable goods, such as food and non-alcoholic beverages, electricity, and tobacco products, were contributors to the increase in the price of final domestic demand. In contrast, there were lower prices for several products, notably renovations, clothing and footwear, and office equipment.

Purchasing power increases

Canada's real gross domestic income, a measure of purchasing power, edged up 0.1% in the third quarter. The increase in real GDP was offset mostly by a decline in Canada's terms of trade (-0.6%), which measures export prices relative to import prices.

Table 2

Real gross domestic income
  Change Annualized change Year-over-year change
  %
First quarter 2009 -3.5 -13.1 -6.6
Second quarter 2009 -0.2 -1.0 -8.3
Third quarter 2009 1.1 4.4 -7.1
Fourth quarter 2009 2.1 8.7 -0.6
First quarter 2010 1.9 7.8 4.9
Second quarter 2010 0.7 2.7 5.9
Third quarter 2010 0.1 0.3 4.8
Note(s):
The change is the growth rate from one period to the next. The annualized change is the growth rate compounded annually. The year-over-year change is the growth rate of a given quarter compared with the same quarter in a previous year.

Incomes up again

Nominal GDP expanded 0.7%. Labour income rose 0.9% as wages and salaries increased in both the goods-producing and services industries.

Corporate profits increased 0.7% in the third quarter, after a 0.6% decline in the previous quarter. Earnings results were mixed with notable increases in oil and gas extraction and motor vehicle parts manufacturing. Wholesale and retail trade industries were among those with lower earnings. Government business enterprise profits fell 3.9%.

Personal income increased 0.6%. Personal disposable income, however, declined 1.5% as income taxes paid returned to a more typical level. There were large income tax refunds in the second quarter and lower payments on filing related to the 2009 tax year.

The personal saving rate was 3.3% in the third quarter, following an unusually high 6.1% in the previous quarter.

The national saving rate was 4.7%, down from 5.6% in the second quarter. Government saving has been negative since the fourth quarter of 2008.

Financial flows: Financing activity decreases

Total funds raised by domestic non-financial sectors reached $195 billion (seasonally adjusted at annual rates) in the third quarter, down from $273 billion in the second quarter.

The decrease in overall borrowing by domestic non-financial sectors was concentrated in provincial and local governments, and was due mainly to net repayments of short-term paper. However, the federal government increased its borrowing through short-term paper, reversing the trend of the previous four quarters, where short-term paper had been repaid. Bond issuance by both the federal government and other levels of government declined in the third quarter.

Funds raised by non-financial private corporations amounted to $40 billion. Bond issuance was the major source of financing as share issuance and mortgage borrowing slowed.

Household borrowing increased slightly in the third quarter after decreasing in the previous quarter. Higher borrowing through loans and consumer credit accounted for the third-quarter increase. In contrast, mortgage borrowing declined with the slowdown in the resale housing market.

The non-resident sector continued to be a net lender to the domestic economy in the third quarter. This lending reflects Canada's quarterly current account deficit, which has continued since the fourth quarter of 2008. Non-resident investors continued to supply large inflows of funds to the economy through investment in Canadian securities, especially bonds.

Gross domestic product by industry, September 2010

Real gross domestic product declined 0.1% in September after a 0.3% increase in August. Output of the goods-producing industries decreased 0.7%, largely as a result of lower extraction of oil and natural gas, and reduced manufacturing activity. Increases at copper, nickel, lead and zinc mines and in utilities helped to offset the weakness in the production of goods. The service sector edged up 0.1%, with increases in the public sector, retail trade and accommodation and food services. Conversely, the finance and insurance sector as well as wholesale trade retreated.

Real gross domestic product declines in September

Mining and oil and gas extraction declined 2.0% in September. Oil and gas extraction fell 2.8%, with both natural gas and crude oil decreasing. Support activities for mining and oil and gas extraction declined as well, partly as a result of unfavourable weather. In contrast, output at copper, nickel, lead and zinc mines continued its recent upward trend after the end of labour disputes, returning to its level reached during the second quarter of 2009.

Manufacturing output declined 0.6% in September, with 10 of the 21 major groups contracting. Both durable goods (-0.8%) and non-durable goods (-0.4%) manufacturing were down. In particular, manufacturing of machinery, food products, transportation equipment, wood products and chemicals decreased. The output of primary metal products and printing increased.

The public sector (health, education and public administration combined) rose 0.2% in September. Retail trade increased by 0.5%, with higher activity recorded at general merchandise stores and at new car dealers. Retailers of building materials and garden equipment and supplies reported a decline, partly mirroring the weakness in residential construction in September.

The finance and insurance sector decreased by 0.7% in September, following a 0.4% increase in August. Weaker financial intermediation (personal and business loans, mortgages, mutual fund sales), lower activity at insurance carriers and a reduced volume of trading on the stock exchanges were contributing factors.

Main industrial sectors' contribution to the percent change in gross domestic product, September 2010

Products, services and contact information

Detailed analysis and tables

The National economic accounts module, accessible from the Key resource module of our website, features an up-to-date portrait of national and provincial economies and their structure.

Additional tables and links to other releases from the national accounts can be found in the third quarter 2010 issue of Canadian Economic Accounts Quarterly Review, Vol. 9, no. 3 (13-010-X, free). This publication is now available from the Key resource module of our website under Publications. This publication will be updated on December 14, at the time of the release of Labour productivity, hourly compensation and unit labour cost. Revised estimates of the Income and expenditure accounts for the first and second quarters of 2010 have been released, along with those for the third quarter of 2010. These estimates incorporate new and revised source data and updated estimates of seasonal patterns.

Gross domestic product by industry

Available on CANSIM: table 379-0027.

Definitions, data sources and methods: survey number: 1301.

The September 2010 issue of Gross Domestic Product by Industry, Vol. 24, no. 9 (15-001-X, free), is now available from the Key resource module of our website under Publications.

Data on gross domestic product by industry for October will be released on December 23.

For more information, or to order data, contact the dissemination agent (toll-free 1-800-887-4623; 613-951-4623; iad-info-dci@statcan.gc.ca). To enquire about the concepts, methods or data quality of this release, contact Bernard Lefrançois (613-951-3622), Industry Accounts Division.

Income and expenditure accounts

Available on CANSIM: tables 026-0009, 380-0001 to 380-0017, 380-0019 to 380-0035, 380-0056, 380-0059 to 380-0062 and 382-0006.

Definitions, data sources and methods: survey numbers, including related surveys, 1901 and 2602.

The third quarter 2010 issues of National Income and Expenditure Accounts: Data Tables, Vol. 3, no. 3 (13-019-X, free), and Estimates of Labour Income: Data Tables, Vol. 3, no. 3 (13-021-X, free), are also now available from the Key resource module of our website under Publications.

For more information, or to enquire about the concepts, methods or data quality of this release, consult the Guide to the Income and Expenditure Accounts (13-017-X, free) or contact the information officer (613-951-3640, iead-info-dcrd@statcan.gc.ca), Income and Expenditure Accounts Division.

Financial flow accounts

Available on CANSIM: tables 378-0015 to 378-0048.

Definitions, data sources and methods: survey number 1804.

The third quarter 2010 issue of Financial Flow Accounts: Data Tables, Vol. 3, no. 3 (13-020-X, free), is also now available from the Key resource module of our website under Publications.

For more information, or to enquire about the concepts, methods or data quality of this release, contact the information officer (613-951-3640, iead-info-dcrd@statcan.gc.ca), Income and Expenditure Accounts Division.

Table 3

Canadian economic accounts key indicators1
  Second quarter 2009 Third quarter 2009 Fourth quarter 2009 First quarter 2010 Second quarter 2010 Third quarter 2010 2008 2009
  Seasonally adjusted at annual rates    
  millions of dollars at current prices
Gross domestic product by income and by expenditure                
Wages, salaries and supplementary labour income 814,944 816,288 827,368 837,652 847,580 855,016 818,613 819,066
  -0.3 0.2 1.4 1.2 1.2 0.9 4.3 0.1
Corporation profits before taxes 134,000 146,920 158,900 170,296 169,264 170,428 216,970 146,897
  -9.3 9.6 8.2 7.2 -0.6 0.7 8.0 -32.3
Interest and miscellaneous investment income 61,984 63,944 66,516 68,756 71,076 69,156 83,998 63,947
  -2.1 3.2 4.0 3.4 3.4 -2.7 17.3 -23.9
Net income of unincorporated business 98,960 100,656 103,016 103,880 105,396 107,676 94,559 99,879
  2.1 1.7 2.3 0.8 1.5 2.2 4.6 5.6
Taxes less subsidies 163,060 164,296 166,212 170,204 171,456 173,392 165,934 163,634
  1.3 0.8 1.2 2.4 0.7 1.1 -0.5 -1.4
Personal disposable income 963,492 967,044 975,068 984,276 1,019,440 1,003,704 949,484 965,628
  0.7 0.4 0.8 0.9 3.6 -1.5 5.3 1.7
Personal saving rate2 5.1 4.4 3.5 3.3 6.1 3.3 3.6 4.6
  ... ... ... ... ... ... ... ...
  millions of chained (2002) dollars
Personal expenditure on consumer goods and services 809,684 817,284 825,194 833,464 838,163 845,317 810,723 814,344
  0.6 0.9 1.0 1.0 0.6 0.9 2.9 0.4
Government current expenditure on goods and services 269,339 273,663 278,245 279,136 281,028 281,682 263,243 272,403
  0.4 1.6 1.7 0.3 0.7 0.2 3.9 3.5
Gross fixed capital formation 274,416 279,972 284,101 291,945 297,495 303,119 316,795 279,704
  -2.1 2.0 1.5 2.8 1.9 1.9 1.4 -11.7
Investment in inventories -1,809 -1,600 -1,175 4,732 14,965 17,519 9,043 -2,879
  ... ... ... ... ... ... ... ...
Exports of goods and services 405,109 414,403 428,043 438,501 444,509 438,813 486,783 417,650
  -4.2 2.3 3.3 2.4 1.4 -1.3 -4.6 -14.2
Imports of goods and services 480,333 510,165 525,291 541,786 566,796 575,593 580,384 499,597
  -0.5 6.2 3.0 3.1 4.6 1.6 1.2 -13.9
Final dometic demand 1,351,009 1,368,670 1,385,435 1,402,350 1,414,568 1,427,891 1,389,545 1,364,225
  -0.1 1.3 1.2 1.2 0.9 0.9 2.8 -1.8
Gross domestic product at market prices 1,278,013 1,280,856 1,296,396 1,314,034 1,321,542 1,324,963 1,318,055 1,285,604
  -0.7 0.2 1.2 1.4 0.6 0.3 0.5 -2.5
Gross domestic product at basic prices by industry                
Goods producing industries 327,969 324,951 332,174 341,077 347,348 350,256 364,184 331,478
  -3.8 -0.9 2.2 2.7 1.8 0.8 -2.3 -9.0
Industrial production 233,540 230,822 236,158 242,550 248,029 250,177 260,468 236,051
  -4.2 -1.2 2.3 2.7 2.3 0.9 -4.5 -9.4
Energy sector 78,930 78,196 80,212 80,978 82,619 82,342 84,001 79,997
  -4.5 -0.9 2.6 1.0 2.0 -0.3 -3.4 -4.8
Manufacturing 148,602 149,672 152,518 157,581 160,577 162,270 170,350 151,120
  -3.3 0.7 1.9 3.3 1.9 1.1 -6.1 -11.3
Non-durable manufacturing 62,965 63,383 64,252 65,841 66,234 65,944 67,822 63,753
  -2.2 0.7 1.4 2.5 0.6 -0.4 -4.5 -6.0
Durable manufacturing 85,278 85,932 87,949 91,491 94,211 96,334 102,735 87,041
  -4.2 0.8 2.3 4.0 3.0 2.3 -7.2 -15.3
Construction 68,375 68,490 69,966 72,049 72,707 73,272 75,596 69,257
  -2.6 0.2 2.2 3.0 0.9 0.8 4.5 -8.4
Services producing industries 863,006 870,277 878,470 887,870 888,981 890,131 865,162 867,752
  0.4 0.8 0.9 1.1 0.1 0.1 2.0 0.3
Wholesale trade 64,360 66,806 69,028 71,222 70,852 70,215 70,350 66,024
  0.7 3.8 3.3 3.2 -0.5 -0.9 0.3 -6.1
Retail trade 73,019 74,072 74,718 76,601 76,113 76,343 73,789 73,518
  1.0 1.4 0.9 2.5 -0.6 0.3 2.9 -0.4
Transportation and warehousing 55,291 56,031 57,111 58,243 58,628 58,852 57,978 56,018
  -0.6 1.3 1.9 2.0 0.7 0.4 0.5 -3.4
Finance, insurance, real estate and renting 250,068 252,469 254,755 256,247 257,180 256,684 245,223 250,938
  1.5 1.0 0.9 0.6 0.4 -0.2 1.9 2.3
Information and communication technologies 58,560 58,502 58,857 59,267 59,617 60,330 58,782 58,636
  -0.1 -0.1 0.6 0.7 0.6 1.2 2.3 -0.2
not applicable
The first line is the series itself expressed in millions of dollars, seasonally adjusted at annual rates. The second line is the quarter to quarter percentage change at quarterly rates.
Actual rate.

Table 4

Monthly gross domestic product by industry at basic prices in chained (2002) dollars
  April 2010r May 2010r June 2010r July 2010r August 2010r September 2010p September 2010 September 2009 to September 2010
  Seasonally adjusted
  month-to-month % change $ millions¹ % change
All Industries 0.0  0.1  0.3  -0.0  0.3  -0.1  1,236,258 3.5 
Goods-producing industries 0.3  0.8  0.5  0.2  0.3  -0.7  349,087 6.7 
Agriculture, forestry, fishing and hunting 0.3 -0.1 -0.3 0.6 0.2 0.5 26,657 4.5
Mining and oil and gas extraction 1.5 2.4 -0.4 0.7 0.3 -2.0 53,983 7.8
Utilities -1.1 -0.4 1.5 -0.6 -0.8 1.1 29,721 0.7
Construction 0.4 -0.3 0.6 0.2 0.4 -0.1 73,336 6.6
Manufacturing -0.2 0.8 0.9 0.0 0.6 -0.6 161,893 7.5
Services-producing industries -0.1  -0.2  0.2  -0.1  0.3  0.1  891,438 2.2 
Wholesale trade 0.4 -1.2 -0.7 -0.4 0.5 -0.1 70,307 5.2
Retail trade -2.3 -0.2 0.8 -0.5 0.2 0.5 76,645 2.7
Transportation and warehousing -0.1 0.3 0.5 0.1 0.0 -0.6 58,611 4.0
Information and cultural industries -0.2 -0.2 0.6 0.1 -0.2 0.3 45,609 1.3
Finance, insurance and real estate 0.2 -0.1 -0.2 -0.3 0.5 -0.0 257,088 1.5
Professional, scientific and technical services 0.1 -0.4 0.3 -0.0 0.0 0.3 60,747 0.8
Administrative and waste management services 0.2 -0.1 1.0 0.0 -0.1 0.0 30,537 2.6
Education services 0.2 0.3 0.3 0.2 0.2 0.1 62,939 2.3
Health care and social assistance 0.0 -0.0 0.2 -0.0 0.1 0.2 82,718 1.5
Arts, entertainment and recreation -1.1 -0.8 1.9 0.3 -0.3 -0.3 11,193 0.8
Accommodation and food services -0.5 -0.3 0.2 -0.1 1.1 0.6 27,859 4.4
Other services (except public administration) -0.1 -0.2 0.6 -0.6 0.0 -0.2 32,099 0.4
Public administration -0.0 0.1 0.2 0.2 0.2 0.3 75,244 2.1
Other aggregations                
Industrial production 0.3 1.3 0.5 0.2 0.3 -0.9 248,867 6.9
Non-durable manufacturing industries -0.7 0.8 0.1 -1.1 0.8 -0.4 65,950 3.7
Durable manufacturing industries 0.2 0.8 1.5 1.0 0.4 -0.8 95,928 10.7
Business sector industries -0.0 0.1 0.3 -0.1 0.3 -0.2 1,025,484 3.8
Non-business sector industries 0.1 0.2 0.2 0.2 0.2 0.2 210,917 1.8
Information and communication technologies industries 0.2 -0.2 0.5 0.7 0.2 0.2 60,448 3.4
Energy sector 0.8 1.4 0.6 -0.7 0.2 -2.0 81,275 3.0
revised
preliminary
Millions of chained (2002) dollars, seasonally adjusted at annual rates.

Table 5

Gross domestic product, implicit chain price indexes, quarterly change
  Second quarter 2009 Third quarter 2009 Fourth quarter 2009 First quarter 2010 Second quarter 2010 Third quarter 2010
  Using seasonally adjusted data (2002=100)
  quarterly % change
Personal expenditure on consumer goods and services 0.2 0.2 0.8 0.2 0.0 0.4
Business gross fixed capital formation -1.3 -0.9 0.1 0.4 0.5 0.3
Exports of goods and services -2.7 -0.5 1.6 1.7 -0.5 0.6
Imports of goods and services -4.1 -3.2 -1.3 -0.1 -0.7 1.1
Gross domestic product at market prices 0.3 0.9 1.1 1.0 0.2 0.4
Final domestic demand 0.0 -0.1 0.6 0.3 0.3 0.4

Table 6

Gross domestic product, implicit chain price indexes, year-over-year change
  Second quarter 2009 Third quarter 2009 Fourth quarter 2009 First quarter 2010 Second quarter 2010 Third quarter 2010
  Using seasonally adjusted data (2002=100)
  year-over-year % change
Personal expenditure on consumer goods and services 0.3 -0.5 1.2 1.4 1.2 1.5
Business gross fixed capital formation 3.4 1.2 -1.7 -1.7 0.1 1.4
Exports of goods and services -11.6 -15.3 -8.8 0.1 2.4 3.5
Imports of goods and services 3.9 -4.3 -10.4 -8.5 -5.2 -1.0
Gross domestic product at market prices -3.8 -3.8 0.7 3.3 3.3 2.8
Final domestic demand 1.6 0.4 0.6 0.9 1.1 1.7

Table 7

Financial market summary table
  Second quarter 2009 Third quarter 2009 Fourth quarter 2009 First quarter 2010 Second quarter 2010 Third quarter 2010 2008 2009
  Seasonally adjusted at annual rates    
  millions of dollars
Funds raised                
Persons and unincorporated business 88,856 91,464 92,732 100,476 94,692 97,216 111,955 89,948
Consumer credit 36,144 38,272 37,504 27,672 26,996 27,576 32,540 35,743
Loans -2,740 -5,456 -4,544 4,568 -1,820 3,064 9,515 -2,465
Mortgages 55,452 58,648 59,772 68,236 69,516 66,576 69,900 56,670
Non-financial private corporations 43,828 75,384 30,116 54,848 60,640 40,440 75,475 46,152
Loans -31,424 -26,972 -17,512 -1,456 10,308 -8,668 28,383 -22,903
Short-term paper -17,888 -12,652 -27,360 -6,124 1,656 -2,068 2,538 -14,298
Mortgages 9,992 9,852 7,552 9,376 17,888 14,292 19,007 9,316
Bonds 55,396 31,384 35,776 25,104 -3,016 21,704 11,363 35,088
Shares 27,752 73,772 31,660 27,948 33,804 15,180 14,184 38,949
Non-financial government enterprises 1,280 2,460 -6,084 8,564 2,140 8,352 -3,108 952
Loans 2,300 1,084 -3,332 -2,584 -1,536 -592 487 206
Short-term paper -2,096 656 -592 4 520 -1,348 -364 -616
Mortgages -4 -4 4 -72 -28 -8 3 -3
Bonds 1,080 724 -2,164 11,216 3,184 10,300 -3,234 1,365
Shares 0 0 0 0 0 0 0 0
Federal government 49,736 100,984 17,752 41,580 16,828 53,704 71,323 86,432
Loans -76 296 256 -64 -32 -8 -100 60
Short-term paper 2,088 -11,624 -47,340 -31,548 -35,368 24,740 65,710 3,494
Bonds 47,724 112,312 64,836 73,192 52,228 28,972 5,713 82,878
Other levels of government 66,332 9,836 73,124 21,992 98,420 -4,724 24,887 44,058
Loans 648 2,600 2,952 1,700 1,884 3,004 958 2,517
Short-term paper 6,848 9,312 18,124 -14,380 20,424 -30,804 13,366 7,654
Mortgages -4 -4 4 0 0 0 -26 1
Bonds 58,840 -2,072 52,044 34,672 76,112 23,076 10,589 33,886
Total funds raised by domestic non-financial sectors 250,032 280,128 207,640 227,460 272,720 194,988 280,532 267,542
Consumer credit 36,144 38,272 37,504 27,672 26,996 27,576 32,540 35,743
Loans -31,292 -28,448 -22,180 2,164 8,804 -3,200 39,243 -22,585
Short-term paper -11,048 -14,308 -57,168 -52,048 -12,768 -9,480 81,250 -3,766
Mortgages 65,436 68,492 67,332 77,540 87,376 80,860 88,884 65,984
Bonds 163,040 142,348 150,492 144,184 128,508 84,052 24,431 153,217
Shares 27,752 73,772 31,660 27,948 33,804 15,180 14,184 38,949