Bank of Canada estimates Q4 growth was 3.3 per cent
Posted January 21, 2010 12:57 pm.
This article is more than 5 years old.
Canada’s economy likely grew by 3.3 per cent in the last quarter of 2009, the central bank said Thursday.
The Bank of Canada also said economic recovery is becoming more entrenched.
The central bank said the recovery started off a lot slower than anticipated, primarily due to Canadians buying foreign products.
It projects the economy will expand 2.9 per cent in 2010, followed by a 3.5 per cent pickup in 2011.
The Bank of Canada said the country’s economy is currently being supported by government stimulus, but said the private sector will play a larger role in supporting growth this year and will be the sole driver of expansion in 2011.
Overall, the bank appears more optimistic about the sustainability of the recovery that is happening around the world, although it also cautions that risks of a stall remain.
