Canada’s Economy Outperforming the U.S.

Canada’s economy expanded at a 1.8 per cent annual pace during the last quarter, the same growth seen at the start of the year and slightly better than what economists were expecting.

Statistics Canada said Friday that an increase in business investment was the biggest factor contributing to growth.

Economists had been expecting a 1.6 per cent gain. The Bank of Canada, however, had been forecasting the 1.8 per cent gain that came to be. For comparison purposes, the U.S. economy expanded at a 1.7 per cent annual pace during the same period.

Speaking to reporters in Toronto, Finance Minister Jim Flaherty said he was encouraged by the showing.  Read More…

This article has 7 Comments

  1. Jace Meyer

    Yes we did grow but it certainly doesnt feel like it. I still think we are in for a recession shortly. You’ll see.

  2. Dara

    I still feel NDP can do a better job in pushing our economy in the right direction. So far we’ve had somewhat sluggish economy (modest gains) for 10 consecutive quarters. We need descent gains to really assure the nation we are on track.

  3. Ramn

    That’s why i love being Canadian. Even our loonie is up again. We don’t mess around like the US with their lack of regulation allowing their banks to go awry and bring down their economy.

  4. Reagan

    I like how people think by giving businesses tax breaks they are more inclined to invest. That is not true. With tax breaks they will look to give each other bigger bonsues.

    It’s about selling quality products/services to a buying market and so its the consumers who are willing to buy that is key to a robust economy.

  5. Tucker Wynkoop

    Hmmm…it makes no mention on the health of the manufacturing sector.

  6. Tahj

    If you read carefully its up but not by much. If anything its actually scarely too low.

    The US is in bad shape so for us to compare against them is a bit of an insult and not a good sign for us.

  7. Sammy

    The housing bubble of Toronto and Vancouver is about to burst and so i’ve taken my stock portfolio and invested outside Canada for now.

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