Canadian real gross domestic product rose at an annualized rate of 0.8% in the fourth quarter following a gain of 2.4% in the third quarter, Statistics Canada reported. By comparison, real GDP in the US rose at an annualized rate of 1.0% in the fourth quarter.

When not expressed at an annualized rate, Canadian real gross domestic product grew 0.2% in the fourth quarter, following a 0.6% increase in the third quarter. Lower final domestic demand and exports both contributed to the slower growth.

Annually, real GDP advanced 1.2% in 2015, about half the pace recorded in 2014, as lower business gross fixed capital formation constrained economic growth, according to Statistics Canada. Final domestic demand grew 0.5% after increasing 1.6% in 2014.