Economy Grew at 5.6% Annual Rate in First Quarter of Year, Statistics Canada Says

Economy Grew at 5.6% Annual Rate in First Quarter of Year, Statistics Canada Says
A Statistics Canada building and sign is pictured in Ottawa on July 3, 2019. The Canadian Press/Sean Kilpatrick
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OTTAWA—Statistics Canada says the economy grew at an annual rate of 5.6 percent in the first quarter of the year.

The figure for the first three months of the year is better than the contraction first forecast months ago, but still represents a slowdown from the 9.6 percent annualized growth seen over the last three months of 2020.