(Bloomberg) — Canada’s corporations continue to expand their profits, even as the economy contends with tariff damage.
Operating profits rose 3.8% to C$200 billion ($142 billion) in the third quarter, according to data released Monday by Statistics Canada. That’s the fastest pace of growth in two years and follows a seasonally adjusted contraction of 2.4% in the second quarter.
In the financial sector, earnings before interest and taxes rose 6% to C$96 billion, driven higher by lower provisions for credit losses and increased non-interest income in banking, the agency said.
Non-financial industries also expanded their operating profits 1.9% between July and September, and increases were recorded in 25 of 39 subcategories. Profits rose in 10 of 14 of the country’s manufacturing industries.
The data show Canada’s companies holding up well overall despite the ongoing pressures of…
