Canada's economy noticed slower growth in the third-quarter of calendar 2019.
The GDP data from Statistics Canada showed 1.3% improvement on an annualized basis, in line with estimates, weaker than the previous quarter's 1.9%, but stronger than the 1.2% figure projected by experts.
The nation's number crunchers added that business investment rose 2.6% in the third quarter, the fastest pace since the fourth quarter of 2017. Growth in household spending accelerated to 0.4%, after rising 0.1% in the second quarter.
Gross domestic product in September grew 0.1%, StatsCan said, on gains in both the services and goods producing sectors, matching analysts expectations as well as the 0.1% increase seen in August.
The Bank of Canada, which has held rates steady since October 2018 even as many of its counterparts including the U.S. Federal Reserve have eased, had initially forecast a 1.3% gain in July but boosted that forecast following a stronger-than-expected second-quarter jump.
Canada’s central bank, which has warned the country’s export-dependent economy is not immune from global trade tensions, is set to release its next interest rate decision on Dec. 4.
