The growth for the quarter was weaker than the 2.9 per
cent pace economists had expected, according to Thomson Reuters.
Not exact matches
Economists predict inflation will move well above the Bank of Canada's 2 - per -
cent target in the coming months, while growth should also return to an above 2 - per -
cent pace after a recent slump.
Canada's economy expanded at a 1.8 per
cent annual
pace during the last quarter, the same growth seen at the start of the year and slightly better than what
economists were expecting.
The showing, while strong, was less than the 3.9 per
cent annual
pace of growth that
economists had been expecting.
After a slowdown that began in the second half of last year, most
economists are anticipating growth will return to an above 2 - per
cent pace in coming months and continue to put pressure on Bank of Canada Governor Stephen Poloz to raise interest rates.
Developers and
economists alike say condo prices, up 21 per
cent in a year according to the Toronto Real Estate Board, can not keep rising at such a
pace, in part because it was their relative affordability compared to single - family homes that fueled the boom in the first place.