Canadian economy off to a slow start

 

Economists are raising concerns about the strength of the Canadian economy after a slow start to the year.

The Bank of Canada says the fires at Fort McMurray and the closures of several oilsands operations are contributing factors.

Statistics Canada says the real GDP rose in the first quarter but fell in March, leading to slower than expected growth.

With the summary of 2015, Stats Can now estimates a 1.1% growth in the previous year rather than the expected 1.2 %.

This prediction implies that the economy won’t be looking any better for the second quarter of 2016.