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GDP rises 3.1 per cent in 2010

OTTAWA – Gross domestic product grew 3.1 per cent in 2010 after a 2.5 per cent decline in 2009.

Statistics Canada reported the annualized rate of GDP rose 3.3 per cent in the fourth quarter grew after expanding 1.8 in the third quarter.

By comparison, real GDP in the U.S. grew 2.8 per cent in Q4.

The agency said higher demand for exports (up 4.0 per cent) contributed the most to the fourth-quarter growth in GDP.

Final domestic demand expanded as consumer spending increased 1.2 per cent.

All major industrial sectors, with the exception of manufacturing, increased their output in the fourth quarter.

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