The Canadian economy grew 0.3 per cent in November, following 0.1 per cent growth in October. Production was higher in most industrial sectors with the main contributions to growth coming from manufacturing, oil and gas and mining.
Our updated fourth quarter GDP estimate is currently reading just 1.1 per cent growth (at an annual rate), in-line with the Bank of Canada's most recent forecast. We anticipate that growth will continue to be modest through the first half of 2013 before accelerating in the second half of the year and into 2014.
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