Not great news for the Canadian economy. From this National Post article:
"Gross domestics product, the broadest measure of the country’s
economic activity, rose by just 1.2%, on an annualized basis, in the
first quarter — well below private-sector estimates.
It was also the smallest quarterly increase since 0.9% recorded in the fourth quarter of 2012, Statistics Canada said Friday.
Economists had forecast 1.8% annualized growth in the first quarter.
Even so, Canada managed better than the U.S. between January and March,
which posted an annualized decline of 1% for the quarter."
Obviously it was a relatively harsh winter, especially in Southern Ontario and Quebec which probably depressed economic performance. The fact the US actually declined significantly in the quarter didn't help either.
Ontario takes a while to release their quarterly GDP numbers, however considering the US negative numbers, Ontario probably underperformed the Canadian 1.2% average. Enough to be slightly negative for the quarter? That's an interesting question, but one that won't be known until after the election.
No comments:
Post a Comment