Canada extends growth streak with 5.6% annualized expansion
Posted: Sat Apr 30, 2022 9:25 pm
https://www.bnnbloomberg.ca/canada-exte ... -1.1758973
Canada’s economy extended its streak of monthly gains, with preliminary data showing the expansion shot past expectations for the first quarter, cementing the Bank of Canada’s aggressive path for rate hikes.
Gross domestic product rose for a 10th straight time in March, increasing 0.5 per cent, Statistics Canada reported Friday. In February, the economy expanded a faster-than-expected 1.1 per cent, the agency said.
The preliminary data suggest first-quarter growth of about 5.6 per cent on annualized basis, which would beat most forecasts.
Canada’s economy extended its streak of monthly gains, with preliminary data showing the expansion shot past expectations for the first quarter, cementing the Bank of Canada’s aggressive path for rate hikes.
Gross domestic product rose for a 10th straight time in March, increasing 0.5 per cent, Statistics Canada reported Friday. In February, the economy expanded a faster-than-expected 1.1 per cent, the agency said.
The preliminary data suggest first-quarter growth of about 5.6 per cent on annualized basis, which would beat most forecasts.