Canada: GDP grows by 3% in 2017

According to Statistics Canada, the Canadian GDP grew by 1.7% in Q4, which despite being lower than the overall 3% growth of 2017 is considerably higher than the 1.4% growth experienced in 2016.

This growth was driven by a 2.3% in the business investment and a 0.5% rise in household spending.

National Bank of Canada economist, Krishen Rangasamy, said: “with growth like this, you can expect a sharp moderation”.

Rangasamy believes 2018 GDP will grow by 2.6%, with the year being “still positive”. This sentiment isn’t shared by all economists, as Craig Alexander, the Chief Economist for Conference Board of Canada, believes 2018 will be a soft year and “this cooling in Canadian growth comes at a time when there are a host of downside risks to the domestic economy from abroad, particularly U.S. trade and tax policy.”

Upcoming Events
See all upcoming events
map4
Subscribe to receive insights delivered straight to your inbox
Latest news, unbiased expert analysis and insights across banking and finance