Canada’s economy showed surprising strength in the final two months of 2020, even amid a new wave of COVID-19 restrictions.
Gross domestic product expanded 0.7% in November from a month earlier, Statistics Canada reported Friday in Ottawa, topping the 0.4% forecast of economists in a Bloomberg survey.
A preliminary estimate from the agency showed GDP grew 0.3% in December, defying expectations for a contraction.
Friday’s report is helping to ease concern about the economic costs from a second wave of lockdowns that has closed large parts of the country.
Some analysts are even questioning whether a first-quarter contraction, which had been almost taken for granted, will even happen.
“Today’s
→ Continue reading at The Spokesman-Review