Canada will lead G7 in economic growth


Vancouver Real Estate

Despite the recent slowdown, the International Monetary Fund said Wednesday it still sees Canada will be the leader in economic growth among major industrialized countries this year and next.

The finding is contained in the organization’s latest world economic outlook, released Wednesday, which suggested growth in the emerging markets would advance three times faster than rich nations next year.

The IMF forecast indicated the Canadian economy is set to grow 3.1% this year and 2.7% in 2011, which would be tops among major industrialized economies. Plus, next year’s expected advance of 2.7% would be ahead of the average 2.2% growth anticipated for the other big industrialized economies, such as Japan, the United States and Europe.

The Bank of Canada had anticipated 3.5% growth this year and 2.9% in 2011, although those projections are expected to be revised downward when the central bank releases its updated economic outlook on Oct. 20.

Source: Financial Post


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James Chung

Founder & Editor in Chief of Hello Vancity magazine. Email [email protected]

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