StatsCan said growth in the first quarter was powered by higher household spending
Canadian economy lost steam after strong start to year
Newfoundland and Labrador pegged for GDP growth of 1.5%, the strongest in the country
Statistics Canada reports increase in GDP by an annualized rate of 1%, beating expectations
Growth has now topped 2% for six straight quarters, defying fears that high interest rates would lead to a recession
Asian countries are expected to drive global growth again in 2024 and 2025
Economic bounce back at the end of 2023 could push back rate cuts, economists say
The eurozone grew 0.5% for the full year, while the U.S. grew 2.5%
Manufacturing, wholesale trade, real estate were among sectors that contracted
The agency says figures for the first nine months of 2023 have already surpassed the total growth in any other full year