Canada's economy puts brakes on at start of 2014

GMT 08:21 2014 Friday ,30 May

Arab Today, arab today Canada's economy puts brakes on at start of 2014

Bottled water on discount at the local supermarket
Ottawa - AFP

Canada's economy slowed at the start of this year, as higher household spending was offset by lower government and business outlays, the government statistical agency said Friday.
Growth was halved in the first quarter to 0.3 percent, from 0.7 percent in the last three months of 2013, Statistics Canada said. 
At an annualized rate, gross domestic product (GDP) was 1.2 percent. 
Analysts had forecast a decline, but were expecting better results.
According to Statistics Canada, household spending was up a mere 0.3 percent -- the smallest gain in four quarters -- while business investment in factories, equipment, government expenditures and exports all fell slightly.


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