The data collected from 'Statistics Canada' has revealed, that recovering at a higher-than-expected speed, Canada's economy yielded a 5% growth in its GDP in the last quarter of 2009.

The economy beat the analyst's forecast of 3.3%.

"It's probably a bit too early to be celebrating, but it's certainly good news", said Doug Porter, Deputy Chief Economist of BMO Capital Markets.

"We still have to be cautious. Clearly there has been quite a turnaround in Canadian domestic activity but there are still risks out there on the global front, including credit concerns in Europe. The U. S. economy, despite a strong fourth quarter, clearly has not put its feet on solid earth just yet. It's still struggling", he added.

As the GDP depicted signs of growth, the central bank had declared, last year, that the recession is over.

During the last quarter, exports of goods and services grew 3.7 per cent with increases in most major categories, including automotive products, industrial goods and energy.

"It's a spotty business demand picture", said Stewart Hall, an Economist with HSBC Securities Canada.

The Canadian growth is expected to remain strong as the global recovery gains pace.