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Global markets: Canada’s gross domestic product up

By Commodity News Service Canada

WINNIPEG, November 30 – The following is a glance at the news moving markets globally.

– Real gross domestic product (GDP) grew 0.9 per cent in the third quarter, following a 0.3 per cent decline in the second quarter. Exports of energy products, rebounding from a second quarter decline, boosted growth. Growth in final domestic demand decelerated to 0.2 per cent, Statistics Canada said in a report on Tuesday.

Exports increased 2.2 per cent, making up some ground lost in the second quarter (-3.9 per cent). Growth was driven by a 6.1 per cent increase in the energy sector, following a 5.1 per cent decline in the second quarter as a result of the Fort McMurray wildfires. Exports of goods grew 2.3 per cent, while services advanced 1.4 per cent.

– The Industrial Product Price Index (IPPI) rose 0.7 per cent in October, led by higher prices for energy and petroleum products. The Raw Materials Price Index (RMPI) increased 3.3 per cent, mainly due to higher prices for crude energy products, Statistics Canada said in a report on Tuesday.

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