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GDP gains yet to bite into jobless rate
Canadian consumers and U.S. importers are putting Canada`s economy on a footing solid enough to raise prospects of an early interest rate hike but likely not enough to quickly bring down the unemployment rate.
Gross domestic product grew at an annualized 3.3-per-cent rate in the fourth quarter of 2010, Statistics Canada said Monday, accelerating after a 1.8-per-cent expansion in the prior three months. Oil export volumes hit a record in the quarter and total sales abroad grew 4 per cent - the fastest pace since 2004 - while most other sectors also saw gains. Consumer spending showed little sign of slowing, rising 1.2 per cent or the fastest in three years.
Read the full article here.
Canadian consumers and U.S. importers are putting Canada`s economy on a footing solid enough to raise prospects of an early interest rate hike but likely not enough to quickly bring down the unemployment rate.
Gross domestic product grew at an annualized 3.3-per-cent rate in the fourth quarter of 2010, Statistics Canada said Monday, accelerating after a 1.8-per-cent expansion in the prior three months. Oil export volumes hit a record in the quarter and total sales abroad grew 4 per cent - the fastest pace since 2004 - while most other sectors also saw gains. Consumer spending showed little sign of slowing, rising 1.2 per cent or the fastest in three years.
Read the full article here.