Oil prices jeopardize economy's continued strong performance
File photos of vehicles on the assembly line at Ford Motor Company of Canada's Oakville Assembly Plant. (Fred Lum/The Globe and Mail)
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Canada's economy grew at a better-than-expected 2.8 per cent annualized pace in the third quarter, thanks to strong growth in exports and consumer demand and a long-awaited pick-up in business investment.
The third-quarter growth in gross domestic product did represent a step back from the second quarter's revised 3.6 per cent, but the second quarter was driven largely by a rebound from weather-related slowdowns in the first three months of the year. And the third-quarter growth was well above economists' consensus estimate of 2.1 per cent annualized.
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