The Economy in Brief – April 2007

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The following Economy In Brief has just been posted on the Finance Canada Site.

Overview

* In the fourth quarter of 2006 real gross domestic product (GDP) grew 1.4% following gains of 2% in each of the two previous quarters. For 2006 as a whole, real GDP increased 2.7%, down from 2.9% in 2005.

* Domestic demand growth slowed in the fourth quarter. Real final domestic demand grew 3.0%, down from 4.0% in the third quarter. Growth in consumer spending on goods and services and business spending on plant and equipment remained solid but slowed. Business inventory accumulation fell.

* Real exports rose while real imports edged lower, raising the nominal trade surplus. However, a sharp deterioration in the investment income deficit lowered the current account surplus to $12.0 billion, or 0.8% of nominal GDP, from $23.1 billion in the third quarter. For 2006 as a whole, the current account surplus stood at $24.3 billion, or 1.7% of nominal GDP.

* Employment grew 2.4% in the fourth quarter, up from 0.6% growth in the third quarter. The unemployment rate in February 2007 was 6.1%, matching those in October and December 2006, the lowest level in 32 years.

READ THIS IN MORE DETAIL: Over at the Dept. of Finance Site

READ MORE:
The Economy In Brief – All Years
The Economy In Brief – April 2007 – PDF Version

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