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Canada: GDP Grows 3.9% in First Quarter

May 31 2011

Canada’s real gross domestic product grew at an annualized rate of 3.9 percent in the first quarter, up from an annualized growth rate of 3.1 percent in the fourth quarter of 2010, Statistics Canada reported Monday.

All major industrial sectors, except for retail trade and arts, entertainment and recreation, increased their output in the first quarter. Manufacturing as well as mining and oil and gas extraction were the largest contributors to growth. Construction, transportation and wholesale trade also recorded notable increases.

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