Canada's Economic Growth Triples U.S.'s quoting : "huffingtonpost"

The Richmond Fed reported persistent labor shortages, pushing upward pressure on wages and hindering growth in some industries. "A majority of districts reported that firms expressed positive near-term outlooks; however, optimism waned somewhat in a few districts," according to the report, released Wednesday in Washington. Still, "most firms across the districts noted little change to the recent trend of modest to moderate wage growth." Projections from Fed officials published in March put the Federal Open Market Committee on a course for two additional rate increases this year, following a hike that month. While costs for some commodities rose, prices, overall, "were little changed from the prior report, with most districts reporting modest increases," the Beige Book said.


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However, most analysts expect the current rapid pace of economic growth to slow in the coming quarters. ADVERTISEMENTThe experts promised us a "barnburner" of a first quarter for Canada's economy, and the economy delivered. A new forecast from ratings agency Moody's predicts Canada's growth for all of 2017 will come in at around 2.2 per cent, behind the U.S. and second-best among G7 countries. Investment in residential construction helped Canada's economy grow at a breakneck speed in the first quarter of 2017. Canada's GDP grew at a 3.7-per-cent pace in the first three months of 2017, more than tripling the U.S.'s 1.2-per-cent pace, StatsCan reported on Wednesday.


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collected by :John Miller