Ottawa (AFP) – Canada’s financial system grew at a price of 1.7 p.c within the fourth quarter, failing to satisfy analysts’ expectations as client spending waned, the federal government statistical company mentioned Friday.
After beginning 2017 with a bang that pushed Canada forward of different Group of Seven (G7) industrialized international locations, its financial system slowed within the second half of the 12 months.
Analysts had predicted 2.1 p.c GDP development within the final three months of the 12 months, following a 1.7 p.c uptick within the third quarter.
The US financial system, by comparability, grew 2.5 p.c within the fourth quarter.
In keeping with Statistics Canada, residential building elevated within the quarter, as did enterprise outlays on equipment and tools — totally on plane and different transportation tools.
Family consumption, in the meantime, slowed to zero.5 p.c development, following a zero.9 p.c improve within the earlier quarter.
Exports rose zero.7 p.c after falling within the earlier quarter, however have been outpaced by a 1.5 p.c improve in imports.
For all of 2017, development accelerated to three.zero p.c, following 1.four p.c development in 2016.