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Canada GDP Growth Fuelled by Mining And Energy

Eonomy

First Posted: 05/30/11 09:50 AM ET Updated: 07/30/11 06:12 AM ET

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(CP) -- OTTAWA - Real gross domestic product grew at an annualized rate of 3.9 per cent in the first quarter, after expanding 3.1 in the fourth quarter of 2010.

By comparison, real GDP in the United States grew 1.8 per cent in the first quarter.

All major industrial sectors, except for retail trade and arts, entertainment and recreation, increased their output.

Goods production rose 1.8 per cent while service-producing industries increased 0.7.

Manufacturing as well as mining and oil-and-gas extraction were the largest contributors to growth.

Construction, transportation and wholesale trade also recorded notable increases.

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(CP) -- OTTAWA - Real gross domestic product grew at an annualized rate of 3.9 per cent in the first quarter, after expanding 3.1 in the fourth quarter of 2010. By comparison, real GDP in the Unite...
(CP) -- OTTAWA - Real gross domestic product grew at an annualized rate of 3.9 per cent in the first quarter, after expanding 3.1 in the fourth quarter of 2010. By comparison, real GDP in the Unite...
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James Leo
512 Fans
10:58 PM on 05/30/2011
If you want to see the economic disparity between USA and Canada, go along the St. Lawrence
Listen
Le fleuve Saint-Laurent You have has been cities like Clayton NY and you take the bridge across to the ST. Lawrence to Highway 401 to 416 to Ottawa What a contrast. The Canadian cities are well maintained showing no sign of decay. The Ministry of Public Works does a wonderful job keeping the monuments and buildings (Pre- Revolutionary War) intact. What a contracts. What a difference in values!
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SidelineBoy
110 Fans
07:20 PM on 05/30/2011
For all you haters - you too quickly are caught up in the fishbowl of our local politics to not step back and see the big picture. In an entire global economic disaster, us and few other countries have survived. We've survived and we are thriving - that's right, thriving compared to our neighbors to the south. So before we get all doom and gloom, maybe step back and be proud of the fact that we have a brighter tomorrow then many others. We have healthcare, we have jobs, people have homes. We should all keep in mind just how fortunate we are. It's a hard life everywhere, but its a bit easier here. Considering the worlds population is over 7 billion, our little country of 30 million have a lot of gripes considering we are better off than 95% of the globe.
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GuyCybershy
1882 Fans
 
08:03 PM on 05/30/2011
Quite true, and if we play our cards right we will soon be better off than 98% of the globe. May 2 was truly a watershed, perhaps future generations will celebrate it as a holiday.
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saskatoonie
385 Fans
12:12 AM on 05/31/2011
Not in my family!!!!!
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northstar11
mt
602 Fans
03:15 PM on 05/30/2011
canadas GDP grows almost 4% ------harper want s further stimulation with tax cuts ---to be followed soon after by high interest rates to slow the economy and curb inflation

conservatives----second only to a bag of hammers in intelligence
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GuyCybershy
1882 Fans
 
03:35 PM on 05/30/2011
Interest rates will rise, but never fear- oil will soon be $150 a barrel and the rest of Canada can ride with Alberta in the stretch limo to prosperity!
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northstar11
mt
602 Fans
03:45 PM on 05/30/2011
when the interest rates rise --they rise too for the canadian government and its 800 billion dollar debt -----so what will the government do to keep up with the payments

it will raise taxes -------i say this particularly for conservatives who cant seem to think past the cut taxes rhetoric
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saskatoonie
385 Fans
12:14 AM on 05/31/2011
What did I hear about the government hiding the effects of oil exploration in a recent report..........some good government!!!!
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RudyHaugeneder
399 Fans
 
12:48 PM on 05/30/2011
So what does the 3.9% GDP hike really mean -- actual growth or does it just reflect higher inflation which, of course, governments and economists claim is almost so small that it can hardly be measured, no matter how much more we are actually paying for everything from food to gasoline?
Wikipedia defines Gross domestic product (GDP) as "the market value of all final goods and services produced within a country in a given period. It is often considered an indicator of a country's standard of living."
If GDP is market value of all final goods and services, then, based on the complaints we hear daily from friends, neighbors, workers, the inflation rate must be at least 3.9 per cent, excluding, as governments do when calculating "official" inflation, important things like food, housing and energy where the costs seem (on personal experience) to have gone up a heck of a lot more.
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cdnman
Still a free spirit...
2275 Fans
01:08 PM on 05/30/2011
Yep...try living or even getting by as a senior on a small, fixed income.
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GuyCybershy
1882 Fans
 
12:18 PM on 05/30/2011
Our great nation will surely continue to grown and prosper with the sure and steady hand of Prime Minister Stephen Harrpler at the helm!
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Blodo
Time to build a better world
710 Fans
01:15 PM on 05/30/2011
You're smirking, right? C'mon now, admit it.
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dubbleplusgood
turned off CNN, turned on CurrentTV
1058 Fans
01:47 PM on 05/30/2011
Don't you have a Sarah Palin thread to infect?
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mmoskvit
Reader. Hitchensian. Fellow traveler.
143 Fans
 
11:58 AM on 05/30/2011
Yay, we're good at digging up stuff out of the ground! Us and Nigeria...
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