Canada grows above expectation in 2014 Q4
The Central Bank of Canada
Ottawa - QNA
Canada's Growth Domestic Product (GDP) grew more than expected in the fourth quarter of 2014, official data showed Tuesday.
GDP grew 2.4% at an annualized rate, compared to the expected 2%. The 3rd quarter growth was revised upward to 3.2% from 2.8%. The Central Bank of Canada had cut interest rate in response to the decline in oil prices and the impact it could have on the oil-based economy. Despite that decline in prices, oil and gas companies were the top gainers by industry, growing by 8.3% in the fourth Quarter.
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