Canada: GDP growth rebounds in December
March 4, 2015
In December, GDP expanded 0.3% over the previous month in seasonally-adjusted terms, which contrasted the 0.2% contraction recorded in November and marked the highest reading in three months. According to Statistics Canada, the increase was largely driven by an increase in manufacturing.
On an annual basis, GDP rose 2.8% in December, which was above November’s 2.0% increase. The figure marked the fastest expansion in six months. The overall trend improved with the annual average variation in GDP inching up from 2.3% in November to 2.4% in December.