Economics
Fading Consumers Make Canada's GDP Slowdown Worse Than Expected
- Economy grows 1.6% in second half, versus 4.2% in first half
- Gap between Canada and U.S. growth is largest since 2015
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Canada’s economy decelerated more than expected in the second half of last year, amid signs indebted households have begun slowing down spending.
The economy grew at an annualized pace of 1.7 percent in the fourth quarter, Statistics Canada reported Friday, versus economist expectations for 2 percent growth. Third-quarter gross domestic product growth was also revised down.