August 30, 2018 / 12:54 PM / 3 months ago

Canada's economy grows 2.9 percent annualized in second quarter

Buildings are seen in the financial district in Toronto, January 28, 2013. REUTERS/Mark Blinch

(Reuters) - Canada’s economy grew at an annualized rate of 2.9 percent in the second quarter, driven by an increase in export volumes and household spending, Statistics Canada said on Thursday.

June’s GDP growth was flat as a result of reduced output in the oil and gas extraction sector, and lower activity in wholesale and retail trade.

Reporting by Dale Smith; Editing by Fergal Smith

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