Canada’s third quarter numbers are out today and it’s good news.
Strong energy exports helped the country’s GDP grow at an annual pace of 3.5 per cent, bouncing back from a second quarter contraction.
The rebound follows the Fort McMurray wildfire that shut down portions of the oilsands and saw the economy recoil by 1.3 per cent.
Statistics Canada says exports of energy products expanded by 6.1 per cent in the third quarter, following a decline of 5.1 percent during the previous quarter.
A consensus of economists had been expecting the numbers to show a 3.4 increase in the third quarter so this result is a little better than expected.