Canadian economic growth ‘gangbusters’
OTTAWA — The economy surged past expectations with across-the-board growth in the second quarter, giving the country its best start to a calendar year since 2002, Statistics Canada said Thursday. Canadian consumers, reassured by a strong job market and better wages, continued to flip open their wallets as real gross domestic product expanded at an annual pace of 4.5 per cent, the agency said. The sturdy growth provided the latest evidence that economic momentum has continued to build in 2017. It arrived with the Bank of Canada widely expected to once again hike its benchmark rate in the coming weeks. The last time quarterly growth climbed as high as 4.5 per cent was six years ago when it hit 5.7 per cent.