OTTAWA – The Canadian economy grew at an annualized rate of 1.9 per cent in the first quarter, matching the previous quarter’s growth rate, Statistics Canada said Friday.
On a monthly basis, real GDP by industry edged up 0.1 per cent in March.
The agency said business investment in plant and equipment advanced 1.2 per cent in the first quarter, marking a ninth consecutive quarterly increase.
Housing investment expanded 2.9 per cent, well above the previous quarter’s pace of 0.8 per cent.
Consumer spending on goods and services, another main contributor to GDP growth in 2011, slowed to 0.2 per cent in the first quarter of this year after a 0.7 per cent gain in the previous quarter
Canada’s economy grew by annualized 1.9 per cent in Q1: StatsCan
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