OTTAWA - The pace of economic growth in Canada slowed in the third quarter, boosted by higher business investment and increased household spending, but weighed down by a drop in exports, Statistics Canada said Friday. Economists had expected annualized growth of 1.2 per cent in the third quarter, according to financial markets data firm Refinitiv. Frances Donald, chief economist and head of macro strategy at Manulife Investment Management, said the strength in business investment was a good sign for the Canadian economy. Statistics Canada said business investment rose 2.6 per cent in the third quarter, its fastest pace since the fourth quarter of 2017. Export volumes fell 0.4 per cent in the third quarter after climbing 3.1 per cent in the second quarter.

Source: thestar November 29, 2019 13:52 UTC