"Governing Council members discussed recent data on economic activity and inflation in Canada. They noted that the Canadian economy entered 2025 in a solid position, with robust GDP growth and inflation close to 2% since last summer.
"Canada’s GDP grew by 2.6% in the fourth quarter of 2024, led by surprisingly strong household spending, business investment and exports. Supported by past interest rate cuts, final domestic demand grew by a solid 5.6% in the fourth quarter, and business investment increased by 6.5%. Members also noted the significant upward revisions to GDP growth for the third quarter of last year, from 1% to 2.2%."
Source? Here are numbers from the Bank of Canada:
"Governing Council members discussed recent data on economic activity and inflation in Canada. They noted that the Canadian economy entered 2025 in a solid position, with robust GDP growth and inflation close to 2% since last summer.
"Canada’s GDP grew by 2.6% in the fourth quarter of 2024, led by surprisingly strong household spending, business investment and exports. Supported by past interest rate cuts, final domestic demand grew by a solid 5.6% in the fourth quarter, and business investment increased by 6.5%. Members also noted the significant upward revisions to GDP growth for the third quarter of last year, from 1% to 2.2%."
https://www.bankofcanada.ca/2025/03/summary-governing-counci...