The Canadian economy eked out small growth last month after a weaker-than-forecast third quarter, keeping the Bank of Canada on track to keep cutting rates.

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Canada's economy grew as expected at an annualized rate of 1% in the third quarter, according to data released on Friday, helped by household and government spending and partly offset by lower business investments and exports.

Canada’s economy lost steam in the July-to-September quarter with a fall in business investment and exports, likely leaving room for the central bank to continue lowering interest rates to help spark growth.

The Canadian economy grew at an annualized rate of one per cent in the third quarter, Statistics Canada said on Friday.

Canada's economy grew at an annualized rate of just 1% in the third quarter, less than what the Bank of Canada had predicted, prompting currency markets to boost bets for a jumbo rate cut next month.

Canada's economic growth slowed to 1.0 percent in the third quarter, impacted by lower investment, exports, and reduced business inventories accumulation. Household and government spending increased,

Canada's economy grew as expected at an annualized rate of 1% in the third quarter, according to data released on Friday, helped by household and government spending and partly offset by lower business investments and exports.