GDP also got a boost from household spending, up 1.1%, and a C$12.25 billion buildup in business inventories, or the largest such accumulation in stockpiles in over a dozen years.
"The economy is firming, and it's managed to deal with the shocks it has had to absorb", said Ted Mallett, chief economist at the Canadian Federation of Independent Business, a small-business lobby.
Overall, Canada's economy expanded at an annual pace of almost four per cent in the first quarter of 2017 - more than triple the rate of GDP growth in the United States over the same period. Nevertheless, we can take comfort that GDP now has grown at an average annual rate of 3.5 per cent over the past three quarters, matching the average quarterly rate in 2013.
Economists were projecting a 4.2 percent first-quarter annualized pace and 0.2 percent gain in March. It raised concerns about household debt and the possibility of a correction in the housing market.
It suggested a further tightening of tax-based measures to mitigate speculative investment in the housing sector and called for greater co-ordination between federal and provincial regulators.
However, Porter noted that exports were an area of key weakness in the GDP report.
Celtic Secure The Treble To Complete Unbeaten Season
We had a choice in the game, do we put on a full-back for young Kieran or stay offensive and attacking, and it paid off for us. You could never of sat down - any manager - coming in at the beginning of the season and wrote down what we would have done.
The surge in first-quarter expansion means Canada has shifted from being a laggard among major industrialized economies, as it struggled under lower commodity prices, to emerging as a growth leader. Investment in non-residential structures, along with machinery and equipment, posted only its second quarterly gain since 2014, growing an annualized 10.3 percent.
Meanwhile, consumers continued to spend, particularly on vehicles.
"That is to me the one serious blemish in this report", he said.
However, most analysts expect the current rapid pace of economic growth to slow in the coming quarters.
Q1 growth was not significantly different than the Bank of Canada's 3.8% forecast and there are still plenty of risks to the outlook, particularly from potential US trade disruptions. The figures for the third and fourth quarters were increased to 4.2 per cent and 2.7 per cent compared to earlier readings of 3.8 per cent and 2.6 per cent, respectively.
Strong to Severe Thunderstorms Possible This Afternoon
The agency says heavy rain and large hail could pelt the region and strong winds could gust up to 90 kilometres an hour. The National Weather Service has issued a Severe Thunderstorm Watch for ALL of western MA until 9pm.
Intel's Compute Card could redefine pocket PCs
Other partners now working on solutions, but not yet in a position to display their work, include Dell, HP and Lenovo. Despite its small size, there's enough space to fit one of four Intel processors , from a Celeron up to a Core i5.
Putin meets Saudi Prince after oil production cuts deal extension But agreeing on Syria remains hard and neither Prince Salman nor Mr Putin offered any breakthroughs on Tuesday. The two hydrocarbon producing giants have found common ground, however, in their cooperation on oil.
Numis Securities Ltd Reaffirms Buy Rating for Helical PLC (HLCL) It dropped, as 48 investors sold Paypoint plc shares while 91 reduced holdings. 88 funds opened positions while 331 raised stakes. The stock of Admiral Group plc (LON:ADM) earned "Underperform" rating by Macquarie Research on Thursday, January 12.
Huddersfield Town win EFL Championship in penalties, move up to Premier League David Wagner will be on the phone to Jurgen Klopp once the enormity of Huddersfield's rise to the Premier League sinks in. Wagner took over in November 2015 as the first manager of the club to be born outside the British Isles .
Fake media prevent Americans from hearing real story On that topic, Trump tweeted Sunday night: "I suggest that we add more dollars to Healthcare and make it the best anywhere". The newspaper cited anonymous US officials who were briefed on intelligence reports on intercepted Russian communications.
A look at what minimum-wage workers get paid across Canada Providing seven paid sick days for all workers separate from Personal Emergency Leave. The government plans to raise it every year along with the rate of inflation.
Pope: More Christian martyrs today than in ancient times
State television cited the health minister as saying the attack, which prompted widespread global condemnation, killed 28 people. The attack came after church bombings in December and April claimed by Daesh that killed dozens of Egypt's Coptic Christians .
Uber fires autonomous car researcher involved in lawsuit
Uber had been asking Levandowski to assist with the internal investigation for months, according to a company spokesperson. The lawsuit also claims that Uber's self-driving cars use LiDAR that is directly copied from Waymo's technology.
Christy Clark to stay on as BC premier
Liberals' discussions with the Greens for support in the minority parliament. "We're going to work together on this", said Weaver. The Liberals won the most seats, but were unable to persuade the Green party to back them in a minority government.
Sonic Mania Coming August 15; Pre-orders Beginning Now
It also has a new trailer with equal parts lovely sketch animations, nostalgia-laden pixel art, and some rad chiptune rock. Sonic Mania is Sega's best chance at truly recapturing the magic that was seen in the 2D Sonic classics.
Angels star Trout has torn thumb ligament, surgery possible
A year after hitting.315 with a.441 on-base percentage, 29 home runs, 100 RBIs and 30 steals, Trout was off to a dynamic start. Team doctor Steve Yoon was scheduled to arrive in Anaheim later Monday night to meet with Trout and discuss his options.
Manchester Police Arrest Man, 25, In Bomb Probe Armed police mingled with spectators as crowds gathered to watch the runners, including mayor of Greater Manchester Andy Burnham. They also have published CCTV images of Abedi on the night of the attack, which show him wearing a hat, glasses, and a dark top.
Abe, Trump seek global pressure on N. Korea That's according to a White House readout of the pair's meeting Friday ahead of the G-7 summit of wealthy nations. Nonetheless, North Korea on May 21 launched a ballistic missile for the second week in a row.
Mumbai Indians win IPL 2017 against Rising Pune Supergiant Sharma broke the shackles with the first boundary of the innings on the opening delivery of the sixth over. Pune improved their tournament record but may have played their last game of the cash-rich league.