The economy staged a major recovery in the third quarter of the year, following a rebound in energy exports as the sector recovered from the Fort McMurray wildfires.
Statistics Canada reported Wednesday morning that gross domestic product grew by 0.9 per cent in the three months to Sept. 30 -- or 3.5% on an annualized basis -- following a 0.3% downturn in the second quarter of the year.
The agency says the key change was a 6.1% increase in exports of energy products, as the sector recovered from the Fort McMurray wildfires that had suspended production. Maintenance shutdowns in the oilpatch during the second quarter had also depressed energy exports.
Exports of goods and services rose 2.2% in the third quarter, with makers of consumer goods taking advantage of a low Canadian dollar to boost their overseas sales by 3.6%
The nation's number crunchers also said the cheap loonie drew more travelers to Canada and the tourism sector earned 3% more.
The Canadian consumer remained cautiously optimistic, with household spending expanding by 0.6% about the same rate as in the previous quarter.
