A major world body is saying our economy will grow even faster than previously expected this year, as strong global growth spurs investment and trade.
The Paris-based Organization for Economic Co-operation and Development (OECD) raised its growth forecast for Canada to 2.2% in 2018, up from 2.1% it had forecast in November.
Canada's growth is expected to slow to 2% next year, but that's also better than previous expectations, which were for 1.9% as of three months ago. OECD says the Canadian economy grew by a strong 3% last year.
But it also said rising consumer debt and house prices could also pose a risk to Canadian growth. Even so, Canada, however, should benefit from stronger demand from the U.S. as a close trading partner
The forecast for higher growth comes just days after U.S. President Donald Trump exempted Canada from tariffs on steel and aluminum, which would have had a significant impact on the economy as the country is the biggest supplier of both metals to the U.S.
