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Canadian GDP up 0.6% in Q4

March 04, 2015

Canadian real gross domestic product rose 0.6% in the fourth quarter following a gain of 0.8% in the third quarter, Statistics Canada reported.

Oil and gas extraction and the finance and insurance sector were the main contributors to growth in the fourth quarter. The public sector posted a notable increase, led by educational services. Gains also occurred in utilities, construction, wholesale and retail trade, professional services, accommodation and food services as well as transportation and warehousing services.

Expressed at an annualized rate, real GDP expanded 2.4% in the fourth quarter. By comparison, real GDP in the US rose 2.2%.