- Argentina’s economy grew by a non-seasonally adjusted 7.9 percent compared to Q4 2003. The country’s unemployment rate continued to decline steadily, as its 12.1-percent rate fell by a 1.1 percent difference compared to the previous quarter and 2.4 percent compared to Q4 2003.
- Brazil’s GDP increased 4.9 percent compared to the same quarter in 2003 and 0.4 percent compared to the previous quarter. The January unemployment rate, at 10.2 percent, was a 0.6-percent improvement over the previous month, but a 1.5-percent decline from the same month in 2004.
- Canada’s economy grew 0.4 percent compared to Q3 and grew 3 percent compared to Q4 2003, based on 1997- chained dollars.
- After strong gains in the first two quarters, Canada’s profit growth slowed to 1.5 percent in Q3 and Q4. “A strong Canadian dollar — appreciating 7.7 percent on top of a 12.1 percent gain against the U.S. dollar in 2003 — hurt manufacturers,” said Statistics Canada in a press release. “Their output was flat in Q4, but overall goods production still grew 0.5 percent. Real gross domestic product advanced 2.8 percent in 2004, accelerating from the 2.0 percent growth in the previous year. Exports rebounded despite remarkable strength in the Canadian dollar.”
- The jobless rate in Canada remained at 7 percent for the third straight month, a 0.3-percent decline from February 2004.
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