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Free AccessMNI 5 THINGS: Canada 4Q GDP +1.7%, Slows More Than Expected>
By Yali N'Diaye
OTTAWA (MNI) - The following are the key points from the December
data on Canadian GDP by industry as well as the fourth quarter GDP by
expenditure data released Friday by Statistics Canada:
- Fourth quarter real GDP rose at an annualized pace of 1.7%
(1.714% unrounded), below analysts' expectations of a 2.0% increase
according to a MNI survey. Growth was also weaker than the 2.5%
projected by the Bank of Canada.
- GDP by industry data showed growth slowed to 0.1% in December, as
expected by analysts, from 0.4% in November. Output of goods-producing
industries was down 0.1%, while services edged up 0.1%.
- Adding to the fourth quarter disappointment, annualized GDP
growth was revised down to 1.5% in 3Q from 1.7%. However, the overall
picture still fits the BOC's scenario of a slowdown in the second half
of 2017. For the whole year, GDP rose 3.0%, as projected by the central
bank, the fastest rate since 2011.
- GDP rose 0.4% on a quarterly basis. Household consumption growth
slowed to 0.5% from 0.9%. The contribution to annualized GDP declined to
1.2 points from 2.1 points in 3Q. Business investment rose 2.3% after
0.8% in 3Q, with the contribution to annualized GDP increasing to 1.7
points from 0.6 points.
- Exports rebounded 0.7% after declining 2.7% in 3Q, while imports
rose 1.5% after edging up 0.1%. As a result, net trade trimmed 4Q GDP by
about 1.1 points. Investment in inventories had a net negative
contribution of 0.7 points.
--MNI Ottawa Bureau; email: yali.ndiaye@marketnews.com
[TOPICS: M$C$$$,MACDS$]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.