BUSINESS

Canada's Economy To Beat All G7 Countries: OECD Forecast

The agency has upped its expectations for the Great White North.

09/20/2017 10:22 EDT | Updated 09/20/2017 10:22 EDT
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The Gardiner Expressway in Toronto. The OECD is forecasting that Canada's economic growth will beat all its G7 peers this year.

OTTAWA — The Organization for Economic Co-operation and Development has raised its expectations for economic growth in Canada this year compared with a June forecast.

The Paris-based economic think tank says it now expects the Canadian economy to grow by 3.2 per cent this year, best in the G7.

That is up from its forecast in June for growth of 2.8 per cent.

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The OECD maintained its Canadian outlook for 2018 at 2.3 per cent.

Meanwhile, the organization's outlook for global economic growth was unchanged at 3.5 per cent for this year and up slightly at 3.7 per cent for 2018, compared with 3.6 per cent in its previous forecast.

Expectations for the U.S. were unchanged at 2.1 per cent this year and 2.4 per cent next year.

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