Canada Quarterly GDP Growth Exceeds Forecasts

Canada’s economy grew faster than expected in the fourth quarter, as consumers boosted spending and businesses built up stockpiles of unsold goods.

Gross domestic product rose at a 2.4 percent annualized pace from October to December, Statistics Canada said Tuesday in Ottawa. The agency also raised third-quarter growth to 3.2 percent, from an initially reported 2.8 percent. Economists surveyed by Bloomberg News forecast a 2.0 percent fourth-quarter gain, according to the median forecast.