{"id":44304,"date":"2024-02-29T14:06:56","date_gmt":"2024-02-29T14:06:56","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/02\/29\/canada-gdp-top-forecasts-dodging-recession\/"},"modified":"2024-02-29T14:06:56","modified_gmt":"2024-02-29T14:06:56","slug":"canada-gdp-top-forecasts-dodging-recession","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/02\/29\/canada-gdp-top-forecasts-dodging-recession\/","title":{"rendered":"Canada GDP top forecasts, dodging recession"},"content":{"rendered":"
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Canada\u2019s economy grew more than expected in the fourth quarter of 2023 due to higher exports and reduced imports, Statistics Canada said Thursday.<\/p>\n

Real gross domestic product (GDP) on an annualized rate grew by one per cent in the fourth quarter, beating economists\u2019 forecasts of 0.8 per cent, and rebounding from a 0.5 per cent contraction in the third quarter.<\/p>\n<\/div>\n

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The fourth quarter ended with a flat reading in December, but the early estimate for January is 0.4 per cent, the strongest monthly pace in a year.<\/p>\n

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Though the growth suggests a rebound, CIBC economist Andrew Grantham cautioned that details in the report suggest that domestic demand remains weak.<\/p>\n

Trade was the biggest driver of growth, with exports rising 5.6 per cent and imports dropping. Consumer spending was tepid at 1 per cent and government and business investment both declined.<\/p>\n

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