OTTAWA – Statistics Canada is expected to release fourth quarter gross domestic product figures today.
The agency’s preliminary estimates called for growth of 1.8 per cent on an annualized basis, an increase from annualized growth of one per cent in the third quarter.
That matches the Bank of Canada’s forecasts for the quarter as well as calls from economists polled by Reuters ahead of Friday morning.
Royal Bank’s expectation is for more modest growth of 1.5 per cent annualized to end the year.
RBC said a busy December shopping season powered by the start of the Liberals’ GST/HST holiday is expected to give the economy a lift heading into 2025.
The updated figures will paint a picture of Canada’s economy before U.S. President Donald Trump took office and embarked on his tariff-setting agenda.
This report by The Canadian Press was first published Feb. 28, 2025.
