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May 31, 2019CANADIAN ECONOMIC ACCOUNTS Q1 2019 
Real gross domestic product (GDP) grew 0.4 per cent (all figures seasonally adjusted at annual rates) in Canada in the first quarter, following growth of 0.3 per cent in the fourth quarter and 2.1 per cent in the third quarter of 2018. Final domestic demand rose 3.4 per cent during the quarter.
Growth in household final consumption rose 3.5 per cent in Q1 2019 following growth of 1.0 per cent in the fourth quarter of 2018. Outlays on durable goods were up 4.9 per cent with higher purchases of vehicles and audio-visual equipment. Outlays for semi-durable goods also rose 4.9 per cent and spending for non-durables rose 2.7 per cent on the quarter. Outlays for services increased 3.3 per cent.
Non-residential investment in buildings and engineering structures declined 2.6 per cent following a decline of 14.2 per cent in Q4. Machinery and equipment rose 39.5 per cent following two quarters of decline, with increases in 8 or the 9 subcategories. There was significant investment in aircraft and other transportation equipment this quarter. Intellectual property products declined due to mineral exploration and evaluation.
Residential investment declined 6.1 per cent marking the fifth consecutive monthly decline. Declines in new construction and ownership transfer costs were partially offset by higher renovation activity.
Exports declined 4.1 per cent as rising services exports only partially offset a decline in goods exports. Export shipments were down for farm and fishing products and crude oil and bitumen. Imports rose 7.7 per cent in Q1 with higher aircraft, aircraft engines and parts, motor vehicles, and pharmaceuticals.
Inventories accumulation rose from $13.9 billion in Q4 to $17.7 billion in Q1.
The overall price level of goods and services produced in Canada (the GDP implicit price index) rose 4.5 per cent in the first quarter after declining 3.3 per cent in Q4 2018. Nominal GDP rose 5.0 per cent in the quarter. On an annualized basis, compensation of employees increased 4.2 per cent and corporate net operating surplus rose 6.9 per cent. The household saving rate declined to 1.1 in the first quarter of 2019.
Source: Statistics Canada Tables 36-10-0103-01 and 36-10-0104-01
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