After the big revision in the US numbers for 2006Q4 GDP, Statistics Canada must be feeling pretty good about its policy to not produce preliminary estimates for GDP.
Anyway, the headline number - an annualised GDP growth rate of 1.4% - is hardly encouraging. But look at the sources of growth:
If the only drag on growth during 2006Q4 was that inventories were being drawn down, then there's good reason to believe that the economy will bounce back fairly quickly.
Interesting. Inventories subtracted 1% from Canadian 4th quarter GDP, 1.4% in the USA, 1.6% in Germany, 0.2% in France (after falling in q3 as well), and 0.1% in Japan. Seems to be a general theme for q4 2006.
I couldn't find detailed figures for the UK with a quick search, just that "inventories should rebound".
Posted by: Iasius | March 03, 2007 at 04:07 AM