Canadian Economy Grew Twice as Fast as U.S. Counterpart in 1st Quarter 2011
05/31/2011
The Canadian statistical agency noted that during this three-month period, businesses replenished inventories and boosted investment spending, exports rose, and government spending stalled,.
Another take on the data analysis is that Canada's real GDP expanded by 1 percent; faster than the 0.8 percent expansion rate posted the last three months of 2010.
In this first quarter exports increased 1.6 percent (following a a 2.1 percent increase in fourth quarter 2010), while imports grew 2.2 percent (after edging down 0.1 percent in the previous quarter).
All major industrial sectors increased their output , with the notable exception of retail trade and arts, entertainment and recreation, added Statstics Canada. "Goods production rose 1.8 percent while service-producing industries increased 0.7 percent. Manufacturing as well as mining and oil and gas extraction were the largest contributors to growth. Construction, transportation and wholesale trade also recorded notable increases."
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