The quarterly growth rate was slower than the 2.2% pace forecast by analysts in a Reuters poll, as well as the Bank of Canada's (BoC's) 2.8% forecast...
OTTAWA - The Canadian economy expanded at an annualized rate of 1.7% in the first quarter, missing forecasts, and real gross domestic product likely rose 0.3% on a monthly basis in April, data showed on Friday.
Growth in the first quarter was driven by higher household spending on services, Statscan said, adding that slower inventory accumulations moderated overall growth.On a per capita basis, household final consumption expenditures edged up 0.1% in the first quarter, after three quarters of declines, Statscan said. Per capita spending on services increased 0.5%, while per capita spending on goods declined for the tenth consecutive quarter.
April's forecast means the economy started the second quarter on a positive note. The BoC, in economic forecasts released last month, said it expects a 1.5% annualized growth rate in the second quarter.After its last rate decision in April, when the BoC held its key policy rate a 23-year high of 5%, Governor Tiff Macklem said a cut in June was possible if inflation continued to cool towards a 2% target.
Former Trump White House attorney Ty Cobb said that America’s Founding Fathers would be “weeping and stunned” over former President Trump’s guilty verdict in this hush-money case that came down on Thursday. Cobb said it is just “sad for the country” seeing a former president convicted. “It’s a tragedy that we now have a former…US markets have had a rough week. The Dow has fallen by around 1,000 points over the last three days alone — and the negative momentum didn’t let up Thursday.
The sounds of drilling, sawing, banging, yelling and smashing at 4 a.m. reverberate through the wall separating Samantha McArthur's bedroom from her next-door neighbours' home. This early May 17 morning is like many others in the past year and a half — the noise and vibrations emanating from the middle Hess Street North row house for hours makes it impossible for McArthur, and her neighbour Patrick Flynn, to sleep.
GDP Growth Growth Rate Bank Of Canada Annualized Rate Statistics Canada Annualized Growth Rate Gross Domestic Product
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