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Canada: Economy grows at slower pace than expected in Q1, estimates for 2015 cut
The Canadian economy contracted in March for a second consecutive month as real gross domestic product grew at a slower-than-expected pace for the first three months of the year. Statistics Canada says real gross domestic product rose at an annual pace of 2.4 per cent in the first quarter. But it says the economy pulled back by 0.2 per cent in March, following a 0.1 per cent contraction in February. The growth for the quarter was weaker than the 2.9 per cent pace economists had expected, according to Thomson Reuters. The results came as Statistics Canada also lowered its estimate for January growth to 0.5 per cent ... (full story)