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Canada’s GDP Grew at 4.5% Annual Pace in 2nd Quarter, Fastest Since 2011

Posted August 31, 2017

Under Economic Issues, International Trade Issues

(Pete Evans – CBC News)

Canada’s economy is expanding at its fastest annualized rate in six years, Statistics Canada reported Thursday.

Canada’s gross domestic product grew by 1.1 per cent between March and June, an improvement from the 0.9 per cent growth seen in the previous three-month period.

That’s an annualized rate of expansion of 4.5 per cent, the highest the figure has been since the third quarter of 2011.

Economists were expecting the annual pace to be lower, at 3.7 per cent.

The Canadian dollar rose on the news, gaining more than a quarter of a cent to 79.60 cents US. Click here to read more.