31 May 2018

Meanwhile, economists predicted a 1.8% increase. For instance, in Q4 of 2017 the economy growth reached 1.7%.

In the same time, the results coincide with the central bank’s forecasts. In its April report, the Bank of Canada predicted the exact 1.3% growth for the first quarter.

“The main thing is that Canada’s economic growth still has all the chances to show an annual growth of 2%, which is in line with the BoC’s expectation”, – noted BMO economist Doug Porter said. “We still predict stronger growth in the second quarter and a rate increase, although the hike will depend on solid signs of the growth rebound”.