Canada's GDP rose in fourth quarter

March 1, 2013 at 11:54 AM

OTTAWA, March 1 (UPI) -- Canada's gross domestic product slipped in December, but rose fractionally in the fourth quarter, Statistics Canada reported from Ottawa Friday.

The data agency said the GDP dipped 0.2 percent from November but rose by 0.2 percent in the quarter.

For the quarter, consumer spending and business fixed-capital investment rose, inventory investment for businesses slowed, the trade balance improved, imports were down and exports gained slightly, the agency said.

Canada's economy expanded 1.8 percent in 2012 after growing 2.6 percent in 2011.

Most major industry groups experienced expansion in 2012. Exceptions were arts and entertainment and public administration.

Production of goods rose 1.9 percent and output from service-oriented firms rose 1.8 percent during 2012.

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