The Canadian economy exceeded low expectations to grow at an annual rate of 0.8% in the final three months of 2015.

A consensus of economists had predicted real GDP for the fourth quarter to produce a flat reading, according to Thomson Reuters. Statistics Canada says the economy grew by 1.2% in 2015, less than half of the 2.5% pace for 2014.

The economy fell into a technical recession at the start of 2015 when it contracted over the first two quarters by a revised 0.9% and again by a revised 0.4%.

Real GDP increased by a revised 2.4% in the third quarter.

-The Canadian Press