2024-09-25 16:07:40
Quebec’s real gross domestic product (GDP) grew by 2.7% at an annualized rate in the second quarter, after a jump of 3.6% in the previous quarter.
In Canada, real GDP growth was 2.1% at an annualized rate.
The Institut de la statistique du Québec, which published the most recent “Économic Accounts of Quebec” on Wednesday, attributes this increase mainly to the rise in final consumption expenditure by public administrations and households.
These increases – 1.5% for public administrations and 0.4% for households – are however slower than those of the first quarter.
This is still the fourth consecutive quarterly increase in household final consumption expenditure.
Foreign trade also contributed to real GDP growth. The total volume of exports increased by 1.4% compared to the first quarter, while that of imports grew less rapidly, at a rate of 0.6%.
Capital expenditures decreased by 0.7% in the second quarter of 2024 compared to the previous period, with business investment falling by 1.1%.
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