31 January 2011
But in the same time, there are certain weak points. For example the manufacturing sector is trying to withstand a strong loonie and weak world markets, so it fell by 0.8%. In addition to it, the construction declined by 0.4%.
The economists of Scotiabank say the November GDP numbers don’t change the overall situation. There should be a high 0.5% gain in December in order to match the BoC forecasts of a moderate 2.3% fourth quarter growth.
There were no rate increases from the central bank since September. Moreover, the majority of economists suggest there won’t be any even at the next BoC rate meeting on March 1. And there are certain reasons for that: if Canada starts raising rates before the USA does, it will boost the loonie and affect the manufacturers.