XPost: can.politics, can.general, soc.culture.canada   
   XPost: can.atlantic.general, soc.culture.quebec, quebec.general   
   From: Paxca@nyet.ca   
      
   You don't want to rely on ANY statistics coming from a federal source.  Stats   
   Canada is the one that quickly re-did its stats when it showed only 2,000 jobs   
   were created in the third quarter.  Harper got on the phone pretty quickly on   
   that one.   
   ____________________________________________________________   
      
   On 12/2/2014 9:39 AM, none wrote:   
   > Canada's GDP growing at 2.8% pace.   
   >   
   > Increase in exports, household spending drive increase, StatsCan says   
   >   
   > Nov 28, 2014   
   >   
   > Canada's economy expanded by even more than economists had been   
   > expecting in the third quarter, Statistics Canada reported Friday.   
   >   
   > Canada's gross domestic product expanded at a 2.8 per cent annual pace   
   > in the past three months, Statistics Canada said today, much better   
   > than expected by economists.   
   >   
   > An increase in exports and an uptick in household spending were the two   
   > main drivers of the increase, the data agency said Friday.   
   >   
   > The 2.8 per cent figure is well ahead of the 2.1 per cent that   
   > economists had been expecting — but still not as good as the 3.9 per   
   > cent pace of growth posted by the U.S. earlier this week.   
   >   
   > "Note that while this is a solid growth figure, this is still   
   > underperformance relative to the U.S," Scotiabank said after the   
   > numbers came out.   
   >   
   > Exports increased by 1.7 per cent. In the previous quarter, they rose   
   > by 4.4 per cent. Canada shipped out 2.2. per cent more crude oil during   
   > the period, the data agency said.   
   >   
   > Fridays numbers cover July, August and September — for the most part,   
   > the three-month period before oil prices began their precipitous   
   > decline. So it should be interesting to monitor if oil exports stay   
   > strong even after prices have cratered.   
   >   
   > "The good news is that the economy was in a surprisingly very good   
   > place heading into the energy price storm," as BMO economist Doug   
   > Porter put it.   
   >   
   > The Bank of Canada had been expecting growth to come in at about 2.3   
   > per cent, which means the reality is better than expected. Normally,   
   > that would be a sign the bank would be leaning toward hiking rates to   
   > slow down inflation. But in this case, it's likely the bank will think   
   > the strong GDP growth will be offset by sinking oil prices, which are   
   > down by almost 40 per cent from where they were this summer.   
   >   
   > The end result is the strong GDP doesn't mean it's any more likely the   
   > central bank will be in a hurry to hike rates, Porter said.   
   >   
   > Another key Canadian industry, the auto sector, posted strong growth   
   > figures.   
   >   
   > Canada exported 2.2 per cent more cars and trucks during the period,   
   > down from the 10 per cent gain in the previous quarter, but still a   
   > solid showing.   
   >   
   > TD Bank senior economist Randall Bartlett said the falling oil prices   
   > "remain a dark cloud on the horizon" and noted that lower profits in   
   > the oil sector will weigh on production growth and capital spending.   
   >   
   > But strength in all other parts of Canada's economy are maybe enough to   
   > offset that, he said.   
   >   
   > "In any event, with momentum in other sectors, Canada's economy appears   
   > well-positioned to weather the storm," Bartlett said.   
   >   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)