The Canadian economy grew 0.5 per cent in January,
bouncing back from a largely weather induced dip in output in December. At the
industry level, growth was led by rising output in the manufacturing industry
as well as lesser contributions from mining, oil and gas, and construction. Economic growth was expected to slow in the
first quarter of 2014, and with today's release, our quarterly tracking
estimate is indicating that real GDP will slow to about 2 per cent from 2.9 per
cent in the previous quarter. The stronger than expected start to the year has
sent Canadian bond yields modestly higher, though not enough to put any
pressure on mortgage rates.
Copyright BCREA – reprinted with permission
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