Daily Update (Source: RBC Financial Group
Canadian GDP rose 2.4% at an annualized rate in the fourth quarter
Mar 3, 2015
- Canadian gross domestic product (GDP) rose at a 2.4% annualized rate in the fourth quarter of 2014. That result was above market expectations for a 2.0% reading and was accompanied by upward revisions to third- and second-quarter growth to 3.2% (was 2.8%) and 3.8% (was 3.6%), respectively. Annual GDP growth increased to 2.5% in 2014, which was up from 2.0% in 2013 and 1.9% in 2012.
- Inventories provided the largest source of growth in the fourth quarter, by adding 1.8 percentage points to the quarterly growth rate after subtracting 1.3 and 2.2 percentage points in the third and second quarters, respectively. Final domestic demand growth slowed to 1.5% from 2.9% in the third quarter due to slower,
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