IMF raises outlook for economic growth in Canada, expected to be tops for G7- Canadian Press |

IMF raises outlook for economic growth in Canada, expected to be tops for G7

However the IMF trimmed its projection for 2017 to 1.9% growth compared with an earlier forecast of 2%

 

The International Monetary Fund expects Canada to lead the G7 for economic growth this year.

The IMF raised its outlook for Canada as part of its latest world economic outlook update.

It now expects the Canadian economy to grow by 2.5% in 2017, up from its April projection of 1.9%.

The IMF says it revised its 2017 outlook for Canada following strong growth in the first quarter and indications of “resilient second-quarter activity.”

However, the IMF trimmed its outlook for Canada for 2018 to 1.9% compared with its earlier forecast for 2%.

The IMF says global economic growth is expected to be 3.5% this year and 3.6% in 2018, unchanged from the April forecast.