Ekonomické zprávy

Canada’s economy expands 0.2 per cent q-o-q in Q4 2023

Statistics Canada announced on Thursday that the country’s gross domestic product (GDP) was flat m-o-m in December 2023 after an unrevised 0.2 per cent m-o-m advance in November. This disappointed economists who had predicted a 0.2 per cent m-o-m growth. 

In the fourth quarter of 2023, the Canadian GDP increased 0.2 per cent q-o-q, following an upwardly revised 0.1 per cent q-o-q contraction (from -0.3 per cent q-o-q) in the third quarter. 

According to the report, the GDP’s q-o-q growth reflected higher exports and reduced imports, moderated by a decline in business investment.

Expressed at an annualized rate, Canada’s GDP grew 1.0 per cent in the final quarter of 2023 after an upwardly revised 0.5 per cent shrinkage (from -1.1 per cent) in the previous quarter. This marked the strongest annual expansion since the first quarter of 2023 (+2.6 per cent y-o-y) and was better than economists’ forecast of a 0.8 per cent advance.

Also, Statistics Canada revealed that preliminary data indicates that real GDP grew 0.4 per cent m-o-m in January 2024.

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