Canada’s Second-Quarter Growth Slows to 1.7% on Investment

Canada’s economic growth slowed in the second quarter as business investment and energy exports declined, cementing views that the central bank won’t raise interest rates for at least a year.

Gross domestic product rose at a 1.7 percent annualized pace from April to June, Statistics Canada said today in Ottawa, while economists surveyed by Bloomberg forecast a 1.6 percent rate. The quarter ended with a 0.5 percent decline for June that was the biggest since March 2009, during the last recession.