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Consumers Lead Canada Growth to Faster-Than-Expected 2.9%

Canada’s economic growth unexpectedly accelerated in the fourth quarter as consumers kept spending and companies added to inventories.

Gross domestic product grew at a 2.9 percent annualized pace from October through December compared with 2.7 percent in the prior three months, Statistics Canada said today in Ottawa. Economists surveyed by Bloomberg predicted growth would slow to 2.6 percent.