Canadian economic accounts, second quarter 2014 and June 2014PDF Version
Real gross domestic product (GDP) rose 0.8% in the second quarter, following a 0.2% increase in the first quarter. This was the largest quarterly gain since the third quarter of 2011. On a monthly basis, real GDP by industry increased 0.3% in June.
The quarterly growth was a result of increased economic activity in all sectors of the economy except non-profit institutions serving households. Final domestic demand was up 0.7% after a flat first quarter. The increase was mainly due to higher household final consumption expenditure.
Household final consumption expenditure was up 0.9%, as a result of increased outlays on goods (+1.2%) and services (+0.7%).
Business gross fixed capital formation increased 0.8% following two consecutive quarterly declines. Investment in residential structures (+2.9%) contributed the most to the overall gain. Ownership transfer costs were up 9.0% after declining in the previous two quarters.
Businesses accumulated $7.0 billion in inventories, down from $14.5 billion in the first quarter. Retail trade reduced its inventories of non-durable goods by $2.8 billion.