Canada: Canadian Economy and Statistics Canada

canada: Statistics Canada says the Canadian economy grew at an annualized pace of 2.0 per cent in the third quarter, matching the expectations of economists, according to The Toronto Star. Sean Kilpatrick / THE CANADIAN PRESS However, economists said the details in the latest reading of the economy showed troubling signs of weakness, adding that a separate report showed the economy ended the quarter on a weak note. The Canadian economy grew at an annualized pace of two per cent in the third quarter compared with 2.9 per cent in the second quarter, matching the expectations of economists, according to Thomson Reuters Eikon. The Bank of Canada raised its key interest rate target in October to 1.75 per cent, its highest level in about a decade. Paul Ferley, assistant chief economist at Royal Bank, pointed to the decline in business investment and a larger-than-expected drop in residential investment as disappointing. Investor expectations are that the central bank will keep its key rate on hold when it makes its next scheduled rate announcement next week, but expectations had been that it would likely raise it in January. (news.financializer.com). As reported in the news.