Canada's economy grew at a 1.7% in the third quarter, Statistics Canada said Nov. 30, showing a sharper-than-expected deceleration. The figure for gross domestic product was below the 2% growth pace in the second quarter and below market expectations of a steady 2% expansion pace.
The bright spot in the economy was exports, which rose 0.9% for the quarter. But goods production fell 1% and exports of auto products tumbled 6.7%.
Canada, like the U.S., is also being hurt by a sharp downturn in housing after a long period of sizzling growth.
Copyright Agence France-Presse, 2006