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« Companies Raising Dividends - 2/27 | Main | Highlights from Royal Bank of Canada's 2009 Report »

March 01, 2010

Canada's Economy Roars to Life

Can a rate hike be far behind?  Canada's GDP grew 5.0% in the fourth quarter, far above the projected 3.3%.  This was the largest jump since 2000, and strengthened the Canadian dollar further against the US dollar to $0.948 (this trend began in 2003, see below). The cause?  Per the Globe and Mail: "The goods-producing side of the economy grew 2.1%...Mining, and oil and gas extraction production rebounded, helped by higher natural gas prices, while manufacturing and construction strengthened..The public sector – health, education and public administration – as well as finance and insurance increased.  Paul Ferley, Royal Bank of Canada assistant chief economist...expects the central bank's key lending rate will hit 1.25% by the end of the year from 0.25% now."

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Posted at 09:46 AM in ECONOMIC NEWS |

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