Canada’s Economy Grows at Fastest Pace in Almost 3 Years

Canada’s economic growth rebounded to the fastest in almost three years in the second quarter, with the expansion broadening to exports and business spending that the central bank says is vital to complete a recovery.

Gross domestic product rose at a 3.1 percent annualized pace from April to June, Statistics Canada said today in Ottawa, faster than the 2.7 percent economists forecast in a Bloomberg survey. Exports surged 17.8 percent on gains in automobiles, farm and forest products, and household spending climbed 3.8 percent.