Canada Is the G-7’s Surprise Growth Leader, For Now
- Central bank’s latest GDP forecast tops developed-world peers
- Weak exports, business investment are flies in the ointment
An oil production facility in Conklin, Alberta, Canada.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Almost out of nowhere, Canada has become one of the fastest growing economies in the developed world.
The oil-producing nation, which struggled mightily with falling crude prices the past two years, grew at an annualized pace of almost 4 percent in the first quarter, according to the Bank of Canada’s latest estimates. No other Group of Seven economy even came close.