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- Canada’s economy expands 2.3 percent q-o-q in Q4
Canada’s economy expands 2.3 percent q-o-q in Q4
Statistics
Canada announced on Tuesday that the country’s gross domestic product (GDP)
edged up 0.1 percent m-o-m in December after a revised 0.8 m-o-m increase in November
(originally a gain of 0.7 percent m-o-m).
That was below
economists’ forecast for an advance of 0.3 percent m-o-m.
In the forth
quarter of 2020, the Canadian GDP grew 2.3 percent q-o-q, following an unrevised
8.9 percent q-o-q surge in the third quarter.
According to
the report, the q-o-q increase in GDP was strengthened by a large change in
business inventories, as well as increases in government final consumption
expenditure, business investment in machinery and equipment (+7.0 percent
q-o-q), and housing investment (+4.3 percent q-o-q).
Expressed at an annualized rate, Canada’s GDP climbed 9.6 percent in the fourth quarter after a revised 40.6 percent jump in the previous quarter (originally a 40.5 percent surge).
In 2020, real GDP shrank 5.4 percent, the steepest annual decline since quarterly data were first recorded in 1961.
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