Canada’s Economy Slows In Fourth Quarter

05 March 2012 - Which Way to Pay

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Canada’s Economy Slows In Fourth Quarter

The Canadian economy slowed in the last quarter of 2011 with the pace of growth at 1.8%, according to Statistics Canada. This result followed a 4.2% increase during the previous quarter. Gross domestic product (GDP) expanded by 0.4 % in December compared to a decline of 0.1 % the previous month.  The fourth quarter GDP was in line with economists’ forecasts, but the December result was slightly above forecasts of a 0.3% increase. The figures are surprising considering significant growth in key sectors, including consumer spending, business investment and exports, which had lead to continued lower interest rates.

The Bank of Canada has predicted 2 % growth in the final quarter. For 2011, Statistics Canada said GDP grew by 2.5%, down from 3.2% the previous year.

Douglas Porter, deputy chief economist at BMO Capital Markets said, “The Canadian economy has been on a see-saw for the past year.” He added, “However, the details of the release were generally positive – the upward revisions earlier in the year, the solid breakdown for Q4, and the healthy December reading...Even with the better tone in recent U.S. indicators, and the slightly firmer trend in underlying Canadian GDP, we are sticking with our call of 2% real growth for this year.”

Economic Calendar

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Related Links:
• Statistics Canada
Canadian economic accounts
• BMO Capital Markets
Research
• Bank of Canada
Canada's central bank
• Latest News
Regular news articles
• Trading Economics
Canada GDP growth rate

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