The Economy

Canadian Economic Growth Cools To 1.7%

Nov. 30, 2006

Auto product exports fell 6.7%.

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.

About the Author

Agence France-Presse

Copyright Agence France-Presse, 2002-2024. AFP text, photos, graphics and logos shall not be reproduced, published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP shall not be held liable for any delays, inaccuracies, errors or omissions in any AFP content, or for any actions taken in consequence.