The International Monetary Fund (IMF) has raised its estimate for Canada’s economic growth rate for this year and 2018, putting it at or near the top of the heap among advanced economies. The Washington-based IMF is now estimating Canada’s gross domestic product for 2017 will be 3.0 per cent — half a percentage point higher than its July estimate. That would put Canada ahead of all the other Group of Seven (G7) countries, with the United States coming second at 2.2 per cent growth from last year. The IMF’s world economic outlook is similar to estimates issued last month by the Paris-based Organisation for Economic Co-operation and Development (OECD), which also said Canada would top the G7 countries this year. The International Monetary Fund says Canada’s pickup in growth reflects reduced drag from lower oil and gas prices with assistance from government spending and central bank policies.

Source: thestar October 10, 2017 15:22 UTC