Canadian Economic Accounts Quarterly Review

Issue notes

Table of contents

About this publication
Revision policy
Revisions in this issue
Overview
GDP by income and by expenditure
Consumer spending regained strength
Investment in residential structures slowed
Business investment in machinery and equipment picked up
Corporate profits slowed
Exports slipped on weaker international demand
Massive build-up of inventories
Imports of goods posted second strong quarterly increase
Labour income posts another solid gain
Government surplus edged up
GDP by industry
Output falls in the mining sector
Non-residential building construction continues to slide
Reduced export demand curtails manufacturing
Lower sales of automotive products hamper retail and wholesale trade
Other sectors
Industry overview, third quarter 2004
Balance of international payments
Current account
Goods surplus drops after two strong quarters
Services deficit falls
Lower profits earned on Canadian direct investment abroad
Financial account
Direct investment abroad advances again
Canadian investment in foreign securities almost entirely in bonds
Modest investment in Canada by foreign direct investors
Foreign investment in Canadian securities evenly split between bonds and stocks
Other investment
Labour productivity, hourly compensation and unit labour cost
Productivity growth in the goods sector
Businesses unit labour cost increased slightly
Slowdown in GDP but a stronger Canadian labour market
The strength of the Canadian dollar harms the competitiveness of Canadian exporters
International investment position
Canadian assets abroad decline
Foreign direct investment in Canada increases
Foreign direct investment
Foreign holdings of Canadian debt instruments decrease substantially
National balance sheet accounts
Growth in national net worth slowed
Change in household net worth driven by real estate
Corporate debt-to-equity continued falling trend
Government debt-to-GDP at twenty year low