Statistics Canada is set to release the fourth quarter gross domestic product report today.A sign outside a building at Statistics Canada in seen in Ottawa on Friday, March 12, 2021. THE CANADIAN PRESS/Justin Tang
OTTAWA – Statistics Canada says the economy grew at an annualized rate of one per cent in the fourth quarter.
That follows a decline in real gross domestic product in the third quarter of 0.5 per cent annualized.
The federal agency says growth was driven by a rise in exports, while housing and business investment both fell.
In December, real GDP was flat as goods-producing industries contracted and Quebec’s public sector workers’ strike weighed on growth.
The federal agency says outside of 2020, economic growth in 2023 rose at its slowest pace since 2016.
A preliminary estimate suggests real GDP grew by 0.4 per cent in January.
This report by The Canadian Press was first published Feb. 29, 2024.
