Q2 govt expenditure up 1.5% vs Q1 (Il Sole 24 Ore Radiocor) - Ottawa, 30 Aug - Canadian government expenditures rose 1.5% in the second quarter compared with the previous three months, according to Statistics Canada.

Business spending on machinery and equipment increased 6.5% in the second quarter, led by higher spending on aircraft and other transportation equipment and parts. This coincided with increased imports of aircraft and ships.

Growth in household spending slowed to 0.2% in the second quarter after rising 0.9% in the first quarter.

Exports of goods and services fell 0.4% in the second quarter after rising 0.5% in the first quarter. Imports of goods and services edged down 0.1% in the second quarter after recording no change in the first quarter.

Residential construction continued to decline, falling in eight of the last nine quarters Housing investment was down 1.9% in the second quarter, the largest decline since the first quarter of 2023.

Compensation of employees rose 1.6% in the second quarter after increasing 1.5% in the first quarter.

The household savings rate reached 7.2% in the second quarter, as gains in disposable income outpaced increases in nominal consumption expenditure. Disposable income gains were mainly from wages and salaries.

Growth in investment income slowed in the second quarter, rising 2.8%, mainly on higher interest received and dividends. Meanwhile, household property income payments, comprised of mortgage and non-mortgage interest expenses, rose 5.7%.

In the second quarter of 2024, total corporate incomes rose 3.1% after falling 5.6% in the first quarter.

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(RADIOCOR) 30-08-24 15:15:58 (0407) 5 NNNN