Slow Canada growth surprise

Canada’s economy expanded at a 1.1% annual rate in the third quarter, half the pace economists expected, as the country’s surging currency left it unable to benefit from soaring US growth.

Gross domestic product was an annualised €700 billion, Statistics Canada said in Ottawa. The median estimate of 24 economists surveyed by Bloomberg News was for a growth rate of 2.2% after the world’s eighth-largest economy shrank at a 0.7% rate in the second quarter.