RBC sees Canadian growth ticking up in 2011

* 2011 GDP seen at 3.2 pct, vs 3.1 pct in 2010

* Employment rate in 2011 expected to be 7.4 pct

* Canadian dollar seen remaining near parity

TORONTO, Dec 15 (BestGrowthStock) – The Canadian economy is
expected to slightly pick up its pace in 2011 as financial
markets improve and monetary policy remains stimulative,
according to a forecast released by RBC Economics on
Wednesday.

RBC said it sees next year’s gross domestic product rising
3.2 percent, compared with 2010’s projected growth of 3.1
percent, and 3.1 percent in 2012. Growth estimates for this
year and next would account for the fastest clip over the past
four years.

Canada’s economy notched its weakest rate of expansion in a
year in the third quarter as a strong domestic currency weighed
on exports and the housing market cooled. [ID:nN30202447]

However, the Canadian dollar is still seen well supported,
remaining near parity against the greenback.

RBC predicts consumer spending — which has been pivotal to
the recovery to this point — will likely slow, with the void
being filled by business investment in capital goods.

The unemployment rate is seen showing limited improvement
as well, ending 2010 below 8 percent and declining to 7.4
percent by this time next year, reaching 7.0 percent by the end
of 2012.
(Reporting by Claire Sibonney; editing by Rob Wilson)

RBC sees Canadian growth ticking up in 2011