OECD raises outlook for Canadian economy this year

Forecast for global economic growth was unchanged at 3.5%.

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% this year, best in the G7.

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

The OECD maintained its Canadian outlook for 2018 at 2.3%.

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

Expectations for the US were unchanged at 2.1% this year and 2.4% next year.

News from © Canadian Press Enterprises Inc. 2016

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