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Canada Quarterly GDP Grew Faster Than Forecast on Inventories

From bloomberg.com

Canada’s economy grew faster than expected in the fourth quarter, as consumers boosted spending and businesses built up stockpiles of unsold goods. Gross domestic product rose at a 2.4 percent annualized pace from October to December, Statistics Canada said Tuesday in Ottawa. The agency also raised third-quarter growth to 3.2 percent, from an initially reported 2.8 percent. Economists surveyed by Bloomberg News forecast a 2.0 percent fourth-quarter gain, according to the median forecast. The growth is in line with the 2.5 percent estimated by Bank of Canada Governor Stephen Poloz, who tomorrow will announce whether ... (full story)

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