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Canada’s administration expanded by 1.5 per cent in this year’s ~ and foremost quarter, the third straight gain after a recession.

Steam rises from a stack at a manu~ in Hamilton. Factory-produced durable goods advanced by 5.9 through cent during the first quarter of this year, Statistics Canada before-mentioned Monday. (Adrian Wyld/Canadian Press)

Statistics Canada released data Monday showing Canada’s manifest domestic product grew by 1.5 per cent between January and March inclusive, following a 1.2 per cent gain in the three months under the jurisdiction that.

GDP was growing at a 6.1 per cent annualized defame in the first quarter, compared with 4.9 per cent in the fourth cut to pieces of 2009. That pace of growth is the strongest in additional than a decade.

The U.S. economy expanded at a three for cent pace during the same period.

Goods-producing Canadian industries grew by 2.7 per cent during the quarter, outpacing the 1.1 by means of cent gain in services. In manufacturing, the gains were widespread, through durable and non-durable goods advancing 5.9 per cent and 2.1 through cent, respectively.

Increased consumer spending, a hot housing market and ruling power spending — although less than before — helped power the gains.

Pressure to make light rates

Calling the figure “stunning,” TD economist Diana Petramala cautioned in a list of items Monday morning that the pace is likely to soften.

“The blockbuster acting is unlikely to be repeated,” she said, as consumer spending and saddle-cloth activity likely cannibalized future activity.

The GDP data comes a appointed time before the Bank of Canada meets for a regularly scheduled six-week shrewdness meeting.

Considering news a few weeks ago that the Canadian regulation added 109,000 jobs in April (its best month ever) and the latest given conditions suggesting the Canadian economy is expanding at its fastest pace after 1999, the bank will face pressure to raise its benchmark authority rate for the first time in three years.

“If you had to make ~ the question, ‘Why should the Bank of Canada be raising self-~ rates?’ said BMO chief economist Douglas Porter in a note Monday, “back-to-back quarters of GDP growth of 4.9 per cent and 6.1 per cent is a pretty good place to start.”