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Canada's GDP growing at 2.8% pace.
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none
Dec 2, 2014, 12:39:59 PM12/2/14
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Canada's GDP growing at 2.8% pace.
Increase in exports, household spending drive increase, StatsCan says
Nov 28, 2014
Canada's economy expanded by even more than economists had been
expecting in the third quarter, Statistics Canada reported Friday.
Canada's gross domestic product expanded at a 2.8 per cent annual pace
in the past three months, Statistics Canada said today, much better
than expected by economists.
An increase in exports and an uptick in household spending were the two
main drivers of the increase, the data agency said Friday.
The 2.8 per cent figure is well ahead of the 2.1 per cent that
economists had been expecting — but still not as good as the 3.9 per
cent pace of growth posted by the U.S. earlier this week.
"Note that while this is a solid growth figure, this is still
underperformance relative to the U.S," Scotiabank said after the
numbers came out.
Exports increased by 1.7 per cent. In the previous quarter, they rose
by 4.4 per cent. Canada shipped out 2.2. per cent more crude oil during
the period, the data agency said.
Fridays numbers cover July, August and September — for the most part,
the three-month period before oil prices began their precipitous
decline. So it should be interesting to monitor if oil exports stay
strong even after prices have cratered.
"The good news is that the economy was in a surprisingly very good
place heading into the energy price storm," as BMO economist Doug
Porter put it.
The Bank of Canada had been expecting growth to come in at about 2.3
per cent, which means the reality is better than expected. Normally,
that would be a sign the bank would be leaning toward hiking rates to
slow down inflation. But in this case, it's likely the bank will think
the strong GDP growth will be offset by sinking oil prices, which are
down by almost 40 per cent from where they were this summer.
The end result is the strong GDP doesn't mean it's any more likely the
central bank will be in a hurry to hike rates, Porter said.
Another key Canadian industry, the auto sector, posted strong growth
figures.
Canada exported 2.2 per cent more cars and trucks during the period,
down from the 10 per cent gain in the previous quarter, but still a
solid showing.
TD Bank senior economist Randall Bartlett said the falling oil prices
"remain a dark cloud on the horizon" and noted that lower profits in
the oil sector will weigh on production growth and capital spending.
But strength in all other parts of Canada's economy are maybe enough to
offset that, he said.
"In any event, with momentum in other sectors, Canada's economy appears
well-positioned to weather the storm," Bartlett said.
Increase in exports, household spending drive increase, StatsCan says
Nov 28, 2014
Canada's economy expanded by even more than economists had been
expecting in the third quarter, Statistics Canada reported Friday.
Canada's gross domestic product expanded at a 2.8 per cent annual pace
in the past three months, Statistics Canada said today, much better
than expected by economists.
An increase in exports and an uptick in household spending were the two
main drivers of the increase, the data agency said Friday.
The 2.8 per cent figure is well ahead of the 2.1 per cent that
economists had been expecting — but still not as good as the 3.9 per
cent pace of growth posted by the U.S. earlier this week.
"Note that while this is a solid growth figure, this is still
underperformance relative to the U.S," Scotiabank said after the
numbers came out.
Exports increased by 1.7 per cent. In the previous quarter, they rose
by 4.4 per cent. Canada shipped out 2.2. per cent more crude oil during
the period, the data agency said.
Fridays numbers cover July, August and September — for the most part,
the three-month period before oil prices began their precipitous
decline. So it should be interesting to monitor if oil exports stay
strong even after prices have cratered.
"The good news is that the economy was in a surprisingly very good
place heading into the energy price storm," as BMO economist Doug
Porter put it.
The Bank of Canada had been expecting growth to come in at about 2.3
per cent, which means the reality is better than expected. Normally,
that would be a sign the bank would be leaning toward hiking rates to
slow down inflation. But in this case, it's likely the bank will think
the strong GDP growth will be offset by sinking oil prices, which are
down by almost 40 per cent from where they were this summer.
The end result is the strong GDP doesn't mean it's any more likely the
central bank will be in a hurry to hike rates, Porter said.
Another key Canadian industry, the auto sector, posted strong growth
figures.
Canada exported 2.2 per cent more cars and trucks during the period,
down from the 10 per cent gain in the previous quarter, but still a
solid showing.
TD Bank senior economist Randall Bartlett said the falling oil prices
"remain a dark cloud on the horizon" and noted that lower profits in
the oil sector will weigh on production growth and capital spending.
But strength in all other parts of Canada's economy are maybe enough to
offset that, he said.
"In any event, with momentum in other sectors, Canada's economy appears
well-positioned to weather the storm," Bartlett said.
Message has been deleted
Canuck57
Dec 9, 2014, 12:35:12 PM12/9/14
to
On 02/12/2014 10:39 AM, none wrote:
> Canada's GDP growing at 2.8% pace.
Nope, that is the government lie, deceit to provide the illusions to
> Canada's GDP growing at 2.8% pace.
Canadians as the reality is quite a bit different. In *world* terms,
Canada is a rapidly shrinking and depreciating economy.
If you devalue money, you can make anything look better. Fact is in
terms of WORLD currencies like USD and Yuan, Canada has lost 14% value
in the last 12-14 months form depreciated currency, deprecated GDP.
Heck, in terms of Monopoly Money (game board) Canada is worth over $1000
trillion dollars as Monopoly Money is near worthless.
Pretty easy to fake growth when you devalue money, devalue incomes,
devalue wages, devalue pensions and savings.
Corrupt politicians like to be liars, say its about oil, but its not.
The devaluation drop of Canada was well underway more than 8 months
before oil dropped from $100/barrel. Now I will disclose the real cause.
No one is really buying all the city, provincial, federals, CHMC debts,
Ottawa/BoC create the money out of thin air to buy this debt....as no
legitimate lender would. Its the illusion of solvency. It dilutes the
currency and gives us 87 cent money. Devaluation/inflation cumulative
tax if you will.
But hey, at 41% of GDP as the costs of out city, provincial, federal, FN
and mafia taxes, we are truly economic slaves to this corruption. As
there are no options on your money/media bought ballot that want ethical
governance.
Its about corrupted Orwellian Statism rule, and our democracy is a ruse.
--
Socialist-statism corruption is a great idea so long as the credit is
good and other people pay for it. When the credit runs out and those
that pay for it leave, they can all share having nothing but
unemployment, debt and discontentment.
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