The early strength in Canadian economic data early this year "bodes well" for the country's growth prospects, the International Monetary Fund said Tuesday. The Washington, D.C.-based organization estimates Canada's gross domestic product will grow by 1.9 per cent this year, unchanged from its previous forecasts in October and January. By contrast, the Bank of Canada projected last week that the economy will expand by 2.6 per cent this year, up from its prior estimate of 2.1 per cent growth. An IMF official explained that the economic momentum in Canada hasn't been reflected in its latest analysis due to timing. The IMF's estimate for worldwide economic growth is 3.5 per cent for this year and 3.6 per cent for 2018, up from 3.1 per cent last year.

Source: CBC News April 18, 2017 18:00 UTC