Canada’s economy grew 2.2% year-on-year in the first quarter of 2025, the country’s statistics agency reported.
The growth estimate for the fourth quarter of 2024 was revised down to 2.1% from 2.6%.
Analysts polled by Trading Economics had expected Canadian GDP to grow by 1.7% in January-March.
Compared to the previous quarter, Canadian GDP grew by 0.5% after the same increase in the previous quarter. Earlier, it was reported that growth in October-December was 0.6%.
Consumer spending rose 0.3% in the first quarter, while government spending fell 0.8% for the first time in a year.
Exports rose 1.6% and imports rose 1.1%.
