Alberta economic snapshot for Dec. 1, 2012

CALGARY, AB, Dec. 1, 2012/ Troy Media/ – The woes in the global economy kept mounting in the third quarter of 2012. A crush of bad news from Spain, the United States, and even China has weighed down the world’s economic growth – and Canada was not immune.

Yesterday morning Statistics Canada reported that inflation-adjusted gross domestic product (GDP) advanced by only 0.1 per cent in the third quarter compared to the second quarter. On an annualized rate (that is, the growth expected over an entire year at this pace) growth was a mere 0.6 per cent. That was the slowest rate of growth in over a year. The sluggish growth in Canada was mostly the result of declines in exports and business investment.

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