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GDP Hikes 2.4% in Q1

Canada's economy expanded at an annualized pace of 2.4% in the first quarter, slightly worse than what economists were expecting.

Economists had been forecasting the pace of growth in gross domestic product to come in closer to 2.8%

Statistics Canada reported Tuesday that in real terms, the economy grew by 0.6% in the quarter.

The agency also reported that GDP decreased 0.2% in March, after edging down 0.1% in February. The decline in March attributed largely to mining, quarrying, and oil and gas extraction and retail trade.