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Ontario economy continues to grow in Q3 2016

Staff Writer |
Ontario released the Economic Accounts for the third quarter of 2016, confirming the province's economy is growing at a steady pace.

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The province's real GDP grew 0.7 percent from July to September of 2016, slightly stronger than the average of all G7 countries.

Over the first three quarters of 2016, Ontario's real GDP growth has outpaced that of Canada's and all other G7 countries.

Higher exports were the primary driver behind Ontario's third quarter gain. Continued growth in household spending and residential construction investment also contributed to the overall increase in real GDP.

Household disposable income increased while the household savings rate also improved.

Ontario's real GDP has increased 12.8 percent from the pre-recession level and is now up 18.4 percent since the end of the recession.

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