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The following Economy In Brief has just been posted on the Finance Canada Site.

Overview

In the third quarter of 2006 real gross domestic product (GDP) grew 1.7% following a 2.0% gain in the second quarter.

Real final domestic demand growth slowed to 2.8% in the third quarter from 3.6% in the second quarter. Residential investment declined 8.2%. Growth in government spending on goods and services slowed, mainly reflecting a winding down of census-related expenditures. Also, business inventory accumulation weakened.

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The following News Release or Speech has just been posted on the Finance Canada Site.

The Honourable Jim Flaherty, Minister of Finance, today released Advantage Canada: Building a Strong Economy for Canadians, a long-term, national economic plan designed to make Canada a true world economic leader. The plan, unveiled along with Minister Flaherty’s Economic and Fiscal Update, features a new national objective to eliminate Canada’s total government net debt in less than a generation and further reduce taxes for all Canadians.

“The Canadian economy as a whole is performing extremely well and is among the fastest growing in the G7,” said Minister Flaherty. “If we are to remain at the economic forefront, we need a long-term plan that will shape Canada’s future, and improve the quality of life for families, students, workers and seniors.”

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