Canada first quarter GDP up 3.9pc

OTTAWA: Canada's economy grew 3.9 percent in the first quarter of this year as business investment continued to increase, Statistics Canada said Monday.

"All major industrial sectors, except for retail trade and arts, entertainment and recreation, increased their output in the first quarter," the government agency said in a statement.

Plant and equipment investments increased for a fifth consecutive quarter. Business inventories accumulated.

Goods production rose 1.8 percent while service-producing industries increased 0.7 percent. Manufacturing as well as mining and oil and gas extraction were the largest contributors to growth. Construction, transportation and wholesale trade also recorded notable increases.

Growth in exports slowed slightly to 1.6 percent while imports rose 2.2 percent.

Analysts had expected growth of 4.0 percent from January to March after the economy expanded 3.1 percent the previous quarter.

By comparison, real GDP in the United States grew 1.8 percent in the first quarter.

Copyright AFP (Agence France-Presse), 2011