Canada's GDP grew by 0.4% on a seasonally adjusted basis in the fourth quarter of 2017, unchanged from the previous quarter, the country's statistical office said.
Real GDP rose 1.7% in the last quarter of 2017, at an annualized rate, Statistics Canada said.
Household spending growth slowed in the quarter, with final consumption expenditures growing 0.5% after 0.9% gains of the third quarter. Household spending increased for services and goods. Final domestic demand was up 1.0% in the final quarter of 2017.
Export volumes rebounded in the fourth quarter, rising 0.7% after a 2.7% decline in the previous quarter, as exports of goods and services, both, registered gains. Industrial chemical, plastic and rubber products led the growth in exports while travel services was the main contributor for the rise in service sector export.
Real imports gained traction in the fourth quarter, climbing 1.5% after inching up 0.1% in the prior quarter. Goods imports increased 1.8%, mainly on the back of a 24.6% jump in imports of aircraft and other transportation equipment and parts.
Business gross fixed capital formation grew at a 2.3% rate in the fourth quarter of 2017, following a revised figure of 0.8% in the previous quarter. Investment in nonresidential structures went up 1.3%, while outlays in residential structures grew 3.2%.
For December 2017, monthly GDP growth slackened to 0.1% from 0.4% of November 2017, as 13 out of 20 industrial sectors grew. Output for service-producing industries edged up 0.1%, due to growth in real estate and rental and leasing, the public sector, and finance and insurance businesses. The gains were partly offset by declines in wholesale and retail trade.
Output from goods-producing industries slipped 0.1% in December 2017, after booking gains of 1.0% in the prior month.
Mining, quarrying, and oil and gas extraction ticked up for the second consecutive month in December 2017, rising 0.6%. The oil and gas extraction subsector increased 1.4%, while mining excluding oil and gas extraction fell 1.8%.
The manufacturing sector in Canada contracted by 0.7% in December 2017, as nondurable and durable manufacturing both slipped.
