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Household spending boosts GDP growth in Canada to end 2016

According to a recent survey, the Canadian economy exceeded expectations toward the end of 2016 coming in at an annual rate of 2.6%.

Matthew MacDonald is the Assistant Director of the National Economic Accounts Division with Stats Canada and says several factors contributed to the jump.

“Mainly it was from household consumption expenditures which continued to grow and accounts for about half of GDP and we also had a bit of growth coming from government spending from export growth as well.”

The 2016 GDP growth finished at 1.4% in Canada which is an increase over the 0.9% mark back in 2015.

The BC rate is done annually and comes out in November.

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