Canada GDP Grows 2.2% in First Quarter, Beats All Forecasts
Heavy haulers at the Fort Hills mine on the Athabasca oil sands near Fort McMurray, Alberta.
Photographer: Ben Nelms/BloombergA strong jump in tariff-driven exports fueled Canada’s growth at the start of this year, offsetting domestic weakness in other parts of the economy.
Gross domestic product grew at an annualized pace of 2.2%, up slightly from 2.1% at the end of last year, Statistics Canada said Friday. The expansion exceeded even the most optimistic economist projection in a Bloomberg survey and was above the Bank of Canada’s forecast for a 1.8% increase.