OTTAWA—Canada’s economy in the first quarter grew faster than expected, data showed on Friday, primarily driven by exports as companies in the United States rushed to stockpile before tariffs by President Donald Trump.
But an increase in imports that led to inventory build-up, lower household spending and weaker final domestic demand indicate that the economy was battling on the domestic front. Economists have warned that as tariffs continue on Canada, this trend will persist.
The gross domestic product in the first quarter grew by 2.2 percent on an annualized basis as compared with the downwardly revised 2.1 percent growth posted in the previous quarter, Statistics Canada said….