Sunday, September 24, 2017

Canada's economy is expanding at its fastest annualized rate in six years

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Canadian economy is growing 50% faster than the 3% growth seen in the United States

CBC News
Posted: Aug 31, 2017 8:58 AM ET
Last Updated: Aug 31, 2017 9:08 AM ET

Canada’s economy is expanding at its fastest annualized rate in six years, Statistics Canada reported Thursday.

Canada’s gross domestic product grew by 1.1 per cent between March and June, an improvement from the 0.9 per cent growth seen in the previous three-month period. 

That’s an annualized rate of expansion of 4.5 per cent, the highest the figure has been since the third quarter of 2011.

CANADIAN GDP IN THE SECOND QUARTER

Economists were expecting the annual pace to be lower at 3.7 per cent.

The 4.5 per cent figure is also 50 per cent higher than the three per cent growth seen in the U.S. economy in the same period.

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