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It may have slightly missed expectations, but Canada\u2019s economy grew the most since 2014 in the first quarter of 2016.<\/p>\nIt may have slightly missed expectations, but Canada\u2019s economy grew the most since 2014 in the first quarter of 2016.<\/p>\n
The growth in GDP of 2.4 per cent was driven mainly by exports, up by 1.7 per cent in a swing from a decline of 0.4 per cent in the previous quarter, according to the latest Statistics Canada report.<\/p>\n
Leading the good export were motor vehicles and parts, chemicals, plastics and rubber products, plus forestry products and building materials.<\/p>\n
Despite this exports rise, the value actually decreased due to energy sector price declines.<\/p>\n
Also helping was housing investment, up 2.7 per cent thanks to boosts in new home construction, renovations and resales.<\/p>\n
Meanwhile, the Organization for Economic Co-operation and Development has forecast Canada will begin to emerge from a difficult period both this year and in 2017.<\/p>\n
Although projections were slightly down on previous estimates, the OECD said on Wednesday that Canada\u2019s GDP will rise 1.7 per cent in 2016 and 2.2 per cent in 2017.<\/p>\n
\u201cAs the contraction in the resource sector slows, activity in the rest of the economy is projected to gain traction,\u201d the OECD said of Canada.<\/p>\n
\u201cNon-energy exports should continue to benefit from the earlier depreciation and strengthening export market growth.\u201d<\/p>\n
British Columbia<\/a> is at the forefront of Canada\u2019s economic recovery, with its unemployment rate<\/a> and GDP increase the leader among all the provinces.<\/p>\n The latest data available shows an unemployment rate of 5.8 per cent at the end of March, and a GDP boost of 3 per cent in 2015.<\/p>\n B.C. house prices are also skyrocketing, with a mammoth 17.2 per cent increase between April 2015 and April 2016. The average home there now costs $743,640.<\/p>\n Interested employers:\u00a0<\/strong>Kindly\u00a0contact us<\/a>\u00a0here to receive further information.<\/p>\n Interested candidates:<\/strong>\u00a0Find out whether you qualify to Canada by completing our\u00a0free on-line evaluation<\/a>. We will provide you with our evaluation within 1-2 business days.<\/p>\n Recent News Articles:<\/strong><\/p>\n