(MENAFN- AFP) Canada's economy slowed at the end of 2015 as exports saw a downswing and businesses curtailed investments, the government statistics agency said Tuesday.
The economy expanded 0.8 percent from October to December following a relatively robust 2.4 percent rate of growth upon exiting a mild recession the previous quarter.
But results were better than expected, with analysts forecasting growth at a slower pace of 0.1 percent in the fourth quarter.
Statistics Canada said Canadians slightly increased spending on culture, clothing and footwear, as well as vehicles, but businesses invested significantly less in engineering structures, machinery and equipment, computers and communications equipment, and reduced their inventories.
A drop in sales of aircraft led the decrease in exports, along with energy products and services. Imports were also down, led by electronics, consumer goods and energy products.
The entire year's economic output advanced 1.2 percent, or about half the pace recorded the previous year, as the global oil rout dragged down the Canadian economy.
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