Canada's Economic Growth Triples U.S.'s

Debra Rodriguez | 01 June, 2017, 02:21

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.

Intel's Compute Card could redefine pocket PCs

LeBron James' Los Angeles home vandalized with racial slur

31 May 2017

Cleveland fires 1 officer, suspends 2nd in Tamir Rice shooting
He resigned after six months from that police force after being deemed unfit to serve as a police officer. He said both officers were disciplined for violating department rules. "There's a 12-year-old kid dead.

Police make fresh arrest over Manchester bombing
In addition, the BBC reported that the authorities received at least three warnings about Abedi's intentions since January. They also reported that people who knew Abedi raised concerns years before he carried out the attack.

Jeremy Corbyn rules out deal with SNP in hung Parliament
The Conservatives say another ballot can not take place until after Brexit and only if there is public consent for a vote. Prime Minister Theresa May has repeatedly said that "now is not the time" for a second referendum on independence.
01 June 2017

LeBron James' Los Angeles home vandalized with racial slur
At this time, it is yet to be determined if the incident at James' home will be investigated as a hate crime or just vandalism. James is set to play in the NBA Finals , which begin Thursday between his Cleveland Cavaliers and the Golden State Warriors .

31 May 2017

Trump repeats criticism of Germany, Merkel stands by position
Beyond policy issues, his shoving of the Montenegrin prime minister and macho handshakes with Macron deepened the skepticism. Trump has vowed to walk away from the historic Paris deal while Merkel supports the agreement.

30 May 2017

Naughty Bella Hadid Gropes Emily Ratajkowski's Boobs After Fashion Mishap at Cannes
The 70 year old turned heads in the dress, which featured an off-the-shoulder top to highlight her impressive cleavage. Back in 2016, Bella Hadid had suffered a similar malfunction in her sensual red outfit at the Cannes Film Festival .
31 May 2017

Russians warned against visiting UK over terror threat
It's been downgraded on the advice of security services from "critical" to "severe", meaning an attack is still highly likely. However, the threat level remains severe and there will still be significant numbers of armed police on our streets.

Israeli govt meeting near Jerusalem site angers Palestinians
The status of Jerusalem is among the most sensitive issues of the Israeli-Palestinian conflict. The nearby Western Wall is the holiest site where Jews can pray.

31 May 2017

UK PM May says prepared to leave European Union without a Brexit deal
You don't address these problems by ignoring them. "I am not a dictator", Corbyn said in one his best lines of the night. The Labour leader said it was "not right and not fair" for his family to be subjected to the scrutiny.
31 May 2017

McConnell juggling diverse demands on Republican health bill
Donald Trump is either blithely unaware of these things or simply doesn't care. The House is - and was created to be - a majority-rule entity.

30 May 2017

Philippines says militants shot dead at least 16 civilians
Army spokesman, Colonal Edgard Arevalo, said "surgical strikes" were taken on "known and verified enemy positions". About 60 militants and 15 members of the security forces have been killed since Saturday, the army says.

30 May 2017

Police arrest man on English south coast in bombing inquiry
Armed response police stand at the start of the Great Manchester Run in central Manchester , England Sunday May 28 2017. Two men - one of them aged 19 and the other 25 - were arrested yesterday on suspicion of terror activities.

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.

Canada's Economic Growth Triples U.S.'s

Recommended