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Economy growing says StatsCan

Statistics Canada says the economy grew at an annualized rate of 1.9 per cent in the first quarter, matching the previous quarter's growth rate.

On a monthly basis, real GDP by industry edged up 0.1 per cent in March.

The agency says business investment in plant and equipment advanced 1.2 per cent in the first quarter, marking a ninth consecutive quarterly increase.

Housing investment expanded 2.9 per cent, well above the previous quarter's pace of 0.8 per cent.

Consumer spending on goods and services, another main contributor to GDP growth in 2011, slowed to 0.2 per cent in the first quarter of this year after a 0.7 per cent gain in the previous quarter

The Canadian Press
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