The world’s 10th-largest economy grew 2 percent in November from a year earlier, the slowest pace since February 2010, Statistics Canada said. Growth will weaken to an average of 1.8 percent in the first three months of this year, according to a monthly Bloomberg economist forecast.
Bank of Canada Governor Mark Carney and Finance Minister Jim Flaherty have said growth will be modest this year as weak global demand curbs exports.
Canada’s gross domestic product posted an unanticipated decline in November.
Output from oil and gas extraction and mining fell 2.2 percent in November to C$57.7 billion
Home sales drove a 2.2 percent increase in the output of real estate agents and brokers, and reduced stock trading cut output in finance and insurance by 0.4 percent.
The industrial product price index fell 0.7 percent in December from November.
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