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Winnipeg Free Press - PRINT EDITION
National economy still sluggish
OTTAWA -- The economy grew at an annual rate of 1.8 per cent in the second quarter, as companies increased investment in equipment and added substantially to their inventories.
The pace of growth was slightly higher than economists' expectations and nearly in line with the Bank of Canada projection for 1.9 per cent.
But it's the third quarter in a row for sluggish economic performance below two per cent.
"The Canadian economy did slightly better than expected in the second quarter, but the pace was still nothing to write home about," Douglas Porter, deputy chief economist at BMO Capital Markets, said in a note to clients.
"The economy is essentially growing right in line with the U.S. now and is still rising below potential."
-- The Canadian Press
Republished from the Winnipeg Free Press print edition September 1, 2012 B5
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