Ugly GDP Report Remains Good Enough for Poloz to Stand Pat
- Canada quarterly growth of 0.8% tops estimates as imports fall
- Business investment plunges 6.5% and exports also decline
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It wasn’t pretty, but Canada’s economy registered an unexpected expansion in the fourth quarter, increasing the chances the central bank will keep its benchmark interest rate unchanged next week.
Gross domestic product rose at a 0.8 percent annualized pace between October and December, Statistics Canada said Tuesday in Ottawa. Economists polled by Bloomberg predicted GDP would be flat. The Bank of Canada’s January forecast also called for zero growth in the quarter.