Canada's real GDP has record gain
(Bank of Canada Governor Mark Carney)
Canada's real GDP increased by 1.5% in Q1
Stats Canada has released a report today CONFIRMING Canada's real GDP increased by 1.5% in Q1. This beats analysts expectations and carries on to become the seventh consecutive month with growth.
Central bank pressured to raise interest rates
Canada’s dollar rose after a report showed the economy expanded at the fastest pace in a decade in the first quarter, increasing pressure on the country’s central bank to raise interest rates tomorrow.
Bigegst gain since at least over ten years ago
The increase marks the biggest year over year gain since at least over ten years ago. The Canadian GDP took a hit over the last couple of years, including negative quarterly GDP change in part of 2008 and 2009, during the global economic down turn that saw consumption spending and home prices fall.
In the first quarter of this year, GDP growth was largely attributable to significant gains in production and inventory levels.
Real GDP is now up to 6.1-percent as at Q1 2010 on an annualized basis, compared to 4.9-percent in the same period last year.
Read more at BusinessWeek
