FXstreet.com (Barcelona) - Canadian economy has slowed down its growing pace in the fourth quarter, as exports declined considerably in a consequence of the strength of the Canadian Dollar, as the latest report by Statcan shows.

Canadian economy has grown at a 0.2% pace in the 4Q of the year, down form the 0.7% growth posted in the previous quarter, according to data released by the Canadian statistics office Statcan.

Exports have declined 2.2% in the last tree months of the year, for the first time in six quarters, wile imports increased 2.6%. Consumer spending has risen in the 4Q fuelled by a 46% rise in vehicle purchases higher travel spending abroad and increased purchases of air transportation, and business investment in machinery and equipment continued at an strong pace.