Achi news desk-
Canada’s GDP rose 0.2 percent in February, driven by a rebound in transportation and warehousing, which saw the biggest month-on-month increase on record in over a year at 1.4 percent.
This is a breaking news update. A previous story from The Canadian Press continues below. More details to come.
Canada has so far avoided a recession that many economists feared would happen after the Bank of Canada began its aggressive cycle of rate hikes.
Strong population growth has helped boost the economy, even as high interest rates have slowed consumer demand and business investment.
Canada’s economy grew at an annual rate of one per cent in the fourth quarter, but shrank on a per capita basis.
The Bank of Canada will be keeping an eye on economic growth figures today as it tries to gauge when it might be appropriate to start cutting interest rates.
This report was first published by The Canadian Press on April 30, 2024.
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The post Canada’s economy is growing: StatCan – CTV News appeared first on Canada News Media.
