2 March 2018

As a result, Canada’s economy grew by 3% in 2017, which is much higher than 1.4% seen in 2016. Nevertheless, the largest part of this increase was pushed by the first two quarters, and then the economy started slowing down.

According to Craig Alexander, chief economist for the Conference Board of Canada, the country showed the highest annual growth in the G7 last year. Meanwhile, it has already lost the pace and started this year quite softly amid a lot of economic uncertainties.

“The economic growth cooling in Canada appears when we have many risky factors from abroad affecting the domestic economic situation, especially in case of U.S. trade and tax policy,” – Alexander noted pointing to business worries on U.S. corporate tax cuts and NAFTA’s negotiation.