Ottawa, May 31 (QNA) - The Canadian economy grew by 2.2% in the first quarter of 2025, driven by a significant increase in the country's exports.
Statistics Canada, the country's national statistics agency, revealed in a report that exports, led by automobiles and industrial machinery, rose by 1.6% in the first quarter of 2025, following a 1.7% increase in the fourth quarter of 2024.
Imports also rose by 1.1% in those three months.
Canadian household spending declined by 0.3% following a rise in the fourth quarter of last year, and the wholesale sector also recorded a buildup of inventories.
Statistics Canada said that goods exports drove growth in the first quarter of 2025, as GDP growth in the previous quarter was revised downward to 2.1%.
It emphasized that growth exceeded expectations, but the buildup of inventories and the decline in household spending indicate potential warning signs for the economy going forward. (QNA)
Related News
10 Jul, 2025
X chief Yaccarino steps down after two y . . .
21 Jun, 2025
British and Irish Lions 24-28 Argentina: . . .
30 Jun, 2025
Sports News | Harry Kane Scores Twice as . . .
03 Jun, 2025
Brand New in Black Mountain
16 Jul, 2025
Borderlands 4 is releasing in just under . . .
09 Feb, 2025
How to watch Scotland vs Ireland FOR FRE . . .
26 Apr, 2025
A Guide to Donald Trump’s Jockocracy: 10 . . .
06 Jun, 2025
‘We want it’ – Sadiq Khan tells WWE lege . . .