GDP Growth in the 4th Quarter
By Elli Davis, March 3, 2011
Photo by reid
Economic news is quite pleasing once again! Canada’s gross domestic product grew more than expected in the fourth quarter of 2010. The 3.3 per cent gain was mainly caused by high exports, Statistics Canada reported.
Indeed, the 4 per cent increase in exports contributed considerably to the overall gain, more than compensating for the much less significant 0.1 per cent rise of imports. On a monthly basis, the GDP went up by 0.5 per cent in December. Just to demonstrate how good the whole year of 2010 was, let‘s look at previous years. In 2008, the real GDP increased by 0.5 per cent and in 2009 it declined by 2.5 per cent. In comparison, 2010‘s growth of 3.1 per cent seems pretty amazing, doesn’t it?
Briefly put, the fourth quarter of 2010 seems to have been one of the most generally successful quarters we have had in awhile (overlooking the huge improvement after the recession). Lovely!