In the first quarter, GDP added 3.9% in seasonally adjusted annualised terms. The result was above the fourth quarter's 3.1% quarter-on-quarter saar increase, although slightly below market expectations, which had seen GDP expanding 4.0%. The solid Q1 performance mainly reflected positive developments in the domestic demand component, boosted by a surge in business investment. Business fixed investment grew 12.0% in the first quarter (Q4: 7.8% saar) as businesses begin to regain competitiveness and manufacturers restocked their inventories. Private consumption expanded a subdued 0.2%, following the 4.4% rise in the fourth quarter. The external sector remained strong in the first quarter. Exports added 6.4% in the first quarter (Q4: +8.8% saar), while imports rebounded from a 0.5% contraction in the fourth quarter to a 9.1% increase in the first, helped by a strong Canadian dollar. As a result, the contribution from net exports to overall economic growth deteriorated from a 2.1 percentage point addition in the fourth quarter to a 1.6 percentage point detraction in the first. Meanwhile, in March, GDP increased 0.3% over the previous month in seasonally adjusted terms, contrasting February's 0.1% contraction and coming in just above market expectations of a 0.2% rise. On an annual basis, GDP grew 2.6%, down from a 2.9% increase observed in February. The annual average growth rate fell from 3.6% in February to 3.5% in March. The Central Bank estimates the economy to grow 2.9% in 2011, before decelerating to a 2.6% expansion in 2012.
Economic growth accelerates to a one year high in Q1
May 30, 2011
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Canada Economic News
October 11, 2016
The Teranet-National Bank National Composite House Price index rose 0.7% in September from the previous month, which followed the 1.5% increase in August.
October 8, 2016
Seasonally-adjusted annualized housing starts registered 220,600 units in September, according to the government-owned Canada Mortgage and Housing Corporation (CMHC).
October 7, 2016
The Ivey Purchasing Managers’ Index (PMI), sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, increased a seasonally-adjusted 6.1 points in September, rising from 52.3 in August to 58.4.
September 30, 2016
In July, GDP grew a strong 0.5% over the previous month in seasonally-adjusted terms.
September 23, 2016
In August, seasonally-adjusted consumer prices recorded a 0.1% decrease over the previous month, which was down from the flat figure recorded in July and marked the lowest reading in six months.