Wednesday, February 3, 2010

Canada's Growth Rate

Last week, Statistics Canada reported the Canadian GDP growth rate for November 2009:

Real gross domestic product advanced 0.4% in November, a third consecutive monthly increase. As was the case in September and October, most major industrial sectors increased their production.
This rate falls significantly below that of the US for the same period.

I haven't seen the numbers by region, but the following suggests that things in Alberta are improving ahead of other provinces:

The mining sector increased 1.8% in November, largely on the strength of oil and gas extraction. Natural gas production rose as prices, while remaining low compared with a year ago, increased recently. Oil extraction went up as foreign demand increased. Support activities for mining, oil and gas extraction advanced for a fourth month in a row.

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