Canada grows at 3.3% annual pace, proving to be the only growth story of North America

Canada is the North American growth story that was once reserved for Texas and California.  Real GDP is growing at a 3.3% annualized pace. 

Canada, unlike commonly thought is the US, enjoys more economic freedom and lower taxation than does the US, which used to be the gold standard of liberty.  Via CanStat:

Real gross domestic product (GDP) rose 0.8% in the fourth quarter, led by exports, following a 0.4% gain in the previous quarter. Final domestic demand advanced 1.2%. On a monthly basis, real GDP by industry increased 0.5% in December.

Higher demand for exports (+4.0%) contributed the most to the fourth-quarter growth in GDP.

Expressed at an annualized rate, real GDP in the fourth quarter grew 3.3%, after expanding 1.8% in the third quarter. By comparison, real GDP in the US grew 2.8% in the fourth quarter.

For the year 2010 as a whole, real GDP grew 3.1%, following a 2.5% decline in 2009.

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