Canada’s economy grew at an annualized rate of one per cent in the third quarter of 2024.
Statistics Canada says that was down from an increase of 2.2 per cent in the previous quarter.
Higher household and government spending contributed to the increase, according to the report.
However, they were moderated by slower non-farm inventory accumulation, lower business capital investment and lower exports.
Household spending was up by 0.9 per cent, led by increased spending on new trucks, vans and SUVs.
Government expenditures increased 1.1 per cent, which marked the third consecutive quarterly increase.
Exports of goods and services were down 0.3 per cent while imports fell by 0.1 per cent in the quarter.
GDP per capita was down 0.4 per cent, marking the sixth consecutive quarterly decline.
