Canada Economy Growth Slowed to Less-Than-Forecast 1%

Canada’s economy slowed more than forecast in the third quarter as a strong currency restrained exports and boosted imports, giving the central bank more reason to keep interest rates unchanged into next year.

Gross domestic product expanded at a 1 percent annual pace in the third quarter, Statistics Canada said today in Ottawa, following an increase of 2.3 percent in the prior three months. Economists predicted a 1.5 percent gain, according to the median of 26 estimates gathered by Bloomberg News.