Canadian GDP Growth Hits 3.1% in First Quarter, Slower Than Expected

Statistics Canada building and signs are pictured in Ottawa in a file photo. The Canadian Press/Sean Kilpatrick

The economy grew at an annualized rate of 3.1 percent in the first quarter, helped by business investment and household spending, Statistics Canada said Tuesday.

The result was down from an annualized rate of 6.6 percent in the fourth quarter of 2021.