Economics
Fading Canada Consumer Leaves Growth at Weakest Since 2016
- Expansion pace of 1.3% trails all forecasts from economists
- Residential investment declines most since 2009 on new rules
Bank of Canada's Poloz Says Businesses Are 'Getting On' With Investing
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A pullback in home and car purchases sapped Canada’s economic strength in the first quarter, though probably not enough to keep the central bank from raising interest rates.
Gross domestic product expanded at a 1.3 percent annualized pace in the January-to-March period, the slowest in almost two years, Statistics Canada said Thursday in Ottawa. The median forecast in a Bloomberg economist survey was for a reading of 1.8 percent, and output trailed even the lowest prediction.