Statistics Canada Releases Q4 2020 and Calendar 2020 GDP

Yesterday, Statistics Canada released GDP figures for Q4, along with GDP for the full year. In Q4, GDP grew 2.3% (an annualized rate of 9.5%) while, for the year, it fell an unprecedented 5.4%. Non-residential construction fell 10.9% in the quarter, reflecting weak demand for office buildings and shopping malls - victims of remote working and online shopping, respectively. For those of you keeping score, DHI Canada's forecast was for 2.5% growth in Q4 and a decline for the full year of 5.8% - close, but no cigar. You can read the article from StatsCan here.