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CANADA – Economy slows to worst quarter since 2012

OTTAWA – Canada’s economy suffered through its worst quarter in more than a year during the first three months of 2014, as activity slowed in many key sectors, particularly business investment.

Due in part to the unusually harsh winter, economic growth fell to a surprisingly weak 1.2 per cent annualized rate, the slowest quarterly pace since the fourth quarter of 2012, when the growth rate was 0.9 per cent.

As well, for the month of March, gross domestic product inched forward by only 0.1 per cent, suggesting a weak hand off to the second quarter.

Statistics Canada also revised downward the fourth quarter growth rate from the previously reported 2.9 to 2.7 per cent, and January’s strong 0.5 per cent GDP reading was trimmed back to 0.4.

Read more » msn NEWS
http://news.ca.msn.com/canada/economy-slows-to-worst-quarter-since-2012-2