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- Canada's GDP climbs 0.2% in the fourth quarter
Canada's GDP climbs 0.2% in the fourth quarter
Statistics Canada released GDP (gross domestic product) growth data on Tuesday. Canada's GDP growth rose 0.2% in December, exceeding expectations for a 0.1% gain, after a 0.3% increase in November.
On a quarterly basis, GDP climbed 0.2% in the fourth quarter, after 0.6% rise in the third quarter.
The quarterly rise was driven by lower final domestic demand and exports. Final domestic demand fell 0.2% in the fourth quarter, after a flat reading in the third quarter.
Exports of goods and services decreased 0.6% in the fourth quarter, while imports of goods and services declined 2.3%.
Household final consumption expenditure was up 0.2% in the fourth quarter as spending on services rose 0.4% in the fourth quarter.
The household saving rate remained unchanged at 4.0% in the fourth quarter.
Business gross fixed capital formation dropped 1.7% in the fourth quarter.
On a yearly basis, GDP rose 0.8% in the fourth quarter, beating expectations for a flat reading, after a 2.4% gain in the third quarter. The third quarter's figure was revised up from a 2.3% increase.
In 2015 as whole, Canada's economy expanded 1.2%, after a 2.5% growth in 2014.
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