Cana­dian eco­nomic growth ‘gang­busters’

Truro Daily News - - CANADA -

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.

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