View Full Version : Low, Canada: Northern neighbor’s economy sags

04-17-2016, 10:58 AM
Last week, the International Monetary Fund downgraded its outlook for Canada for this year and next. Gross domestic product is projected to grow by 1.5 percent and 1.9 percent, respectively.

Last year Canada’s GDP grew by an anemic 1.2 percent — half the rate for the United States. The IMF expects U.S. growth to continue in this higher range over the next two years.

Meanwhile, Canadian unemployment stood at 7.1 percent in March, down two-tenths of a point from February but still higher than 5 percent in the United States.