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Canada’s economic growth disappointed Tuesday, up only 1% on an annual basis and held back by lower exports and investments in housing, Statistics Canada said Tuesday.

The GDP also declined slightly in September, down 0.1% compared with an increase of 0.3% in August.

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Annualized, the economy grew 1% in the third quarter, compared with 2.3% growth in the second. By comparison, the United States grew 2.5% in the third quarter.

Canadian real GDP was up 0.3% in the third quarter, compared with a 0.6% increase in the second.

Some positives:

– A 6.5% increase in investments in plant machinery and equipment, the highest so far this year. A 0.9% increase in consumer spending also helped buoy the economy

– Goods-producing industries (+0.8%) outpaced the service industries (+0.1%) for the fourth straight quarter

– Manufacturing, mining and the public sector were the main sources of growth in the third quarter