Canadian Q4 GDP Growth Exceeds Expectations
The Canadian economy grew at an annualized 2.6% in the fourth quarter of 2016, besting expectations of a 2.0% increase. For the full-year of 2016, Canada grew its economy by 1.4%.
Increased consumer spending was responsible for the higher growth, while business investment contracted for the ninth consecutive quarter. A more favorable trade balance also contributed to growth.
Uncertainty remains in Canada as further details of the United States trade intentions are slowly made known.