#CBC: “Canadian GDP expanded at 1.7% annual pace in fourth quarter – Business” #Toronto #Montreal #Calgary #Ottawa #Canada

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Canada’s economy grew by three per cent last year, more than twice the growth seen the year before. But almost all of the growth came in the first half of the year, followed by a sharp slowdown from June onwards. (Paul Sancya/Associated Press)

The pace of growth in Canada’s economy slowed down at the end of 2017, expanding at an annual pace of just 1.7 per cent in the last three months of the year.

Statistics Canada reported Friday that the pace of expansion in the economy was the same in October through December as it was in the summer months. 

But both figures are well below the pace seen in the 12-month period before that, when the economy was humming along at an average growth rate of 3.6 per cent. That was the strongest pace of growth since 2010, Bank of Montreal noted Friday morning, but that growth is starting to look well back in the rear-view mirror.

Household spending slowed down in the quarter, to expand by just 0.5 per cent. In the previous quarter, it had grown by 0.9 per cent.

For the year as a whole, Canada’s economy grew by three per cent last year, well ahead of the 1.4 per cent growth seen in 2016. But “much of this growth was attributable to the first two quarters of 2017, with deceleration observed toward the end of the year,” the data agency said.

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Note: “Previously Published on: 2 March 2018 | 1:48 pm, as ‘Canadian GDP expanded at 1.7% annual pace in fourth quarter – Business’ on CBC RADIO-CANADA. Here is a source link for the Article’s Image(s) and Content”.

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