End of year boom for Canada GDP

Canada’s economy roared back to life in the fourth-quarter of 2010, after a disappointing third quarter, supporting expectations that the Bank of Canada will resume interest rate hikes in the first half of this year. Surging exports and strong consumer spending led to a 3.3 per cent annualised rate of growth in the fourth-quarter, up from 1.8 per cent in the third-quarter, Statistics Canada (Statscan) said yesterday. Statscan revised the third-quarter figure from one per cent previously.