May 30, 2011 / 3:25 PM / in 7 years

Economic growth to slow from Q1 pace, Flaherty says

TORONTO (Reuters) - Canada’s first-quarter growth numbers are encouraging but the economy is likely expand at a more modest pace for the rest of the year, Finance Minister Jim Flaherty said on Monday.

<p>Minister of Finance Jim Flaherty listens to reporters after a day of meetings with G-20 finance ministers and central bank governors during the International Monetary Fund and World Bank Spring Meetings at IMF headquarters in Washington, April 15, 2011. REUTERS/Jonathan Ernst</p>

“We knew that the first quarter would be exceptional this year and that growth for the rest of the year would more modest,” he told reporters in Toronto.

Reporting by John McCrank; writing by Jeffrey Hodgson

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