TORONTO - Ontario's economy grew at a modest rate of 1.8 per cent last year, down from three per cent in 2010 and well below the national rate.
Canada's real gross domestic product for 2011 was 2.5 per cent, while the American GDP rose 1.7 per cent.
In Ontario, corporate profits rose 13.8 per cent last year -- down from 19.1 per cent growth in 2010.
Figures released by the Ministry of Finance also show Ontario's GDP increased just 0.5 per cent between October and December.
Consumer expenditures increased slightly in the fourth quarter and were up 2.1 per cent on the year as people bought more cars, furniture, appliances, clothing and footwear.
Investment in residential construction was up 1.5 per cent in the fourth quarter and 5.1 per cent for the year, down from robust 8.3 per cent in 2010.
Non-residential construction spending grew by 5.6 per cent last year after falling 1.6 per cent in 2010.
