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Economy grew at annualized rate of 1% in Q4, Statistics Canada says

Economy grew 1%

Statistics Canada says the economy grew at an annualized rate of one per cent in the fourth quarter.

That follows a decline in real gross domestic product in the third quarter of 0.5 per cent annualized.

The federal agency says growth was driven by a rise in exports, while housing and business investment both fell.

In December, real GDP was flat as goods-producing industries contracted and Quebec’s public sector workers’ strike weighed on growth.

The federal agency says outside of 2020, economic growth in 2023 rose at its slowest pace since 2016.

A preliminary estimate suggests real GDP grew by 0.4 per cent in January.

 



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