Canada out of recession
Car sales and other purchases help lift economy in third quarter.
The country's gross domestic product (GDP) grew by 1% in the third quarter (or 0.4% on an annualized basis), according to AFP. Still, that growth was less than many analysts had expected, with the general analyst forecast at about 0.6% annualized.
The second quarter saw GDP shrink by 3.1%.
Is this new expansion a blip or a trend?Economists are encouraged by a 0.8% increase in consumer spending, which AFP reports was led by car sales. Car imports helped boost imports 8%.
Analysts are hopeful for the fourth quarter, expecting GDP to grow by 3.9%.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
New legislation is allowing foreign companies to finally invest in the country's vast oil reserves.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.