Canada’s Economic Growth Rate Drops
Posted Jan 18, 2012 8:04 pm.
This article is more than 5 years old.
The good news is the Canadian economy will continue to grow, the bad news is at a lower rate than last year.
Pedro Antunes, the Director for the National and Provincial Forecasts with the Conference Board of Canada says consumers are one of the reasons for the slowdown because they’re more reluctant to spend.
The gross domestic product will grow by 2.1 per cent in 2012 compared to 2.3 per cent last year, largely because of a lack of spending by the government and business sector.
The federal government alone will cut spending by 0.6 per cent, taking roughly $2 billion out of the economy.
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