February 28th, 2011
Here’s a pleasant piece of economic news to help ease you back to work this Monday afternoon: Statistics Canada reported this morning that after a 0.4 percent gain in GDP over the third quarter of 2010, the final quarter saw Canada post a 0.8 percent gain in GDP.
The welcome speed up in growth is attributed
largely to a healthy 4 percent rise in exports over the same time period.
A Globe and Mail article on the subject reminds us that tomorrow morning Canada’s central bank will announce a decision as to whether or not to raise interest rates and suggests that the latest Stats Can numbers – which join other recent reports confirming Canadian economic growth – will indeed push the Bank of Canada towards raising interest rates, likely in this year’s second quarter.
The housing industry, along with everyone else, awaits the decision from the Bank – which, amid concern about the global economic recovery, has been put off for almost half a year.
But more on that announcement tomorrow. . . Check back!