It's Official, Canada's Economy Is Now Ranked #2 - MTL Blog

It's Official, Canada's Economy Is Now Ranked #2

A powerhouse among the world's biggest countries.

Throughout all of 2017 so far, the Canadian economy has seen it's own little boom. Our GDP has grown so much that the interest rates that had stayed stagnant suddenly booted up thanks to the largest growth that the country has seen in a decade.

READ ALSO: Quebec Wants To Stop All Anglophones From Moving To The Province

Like most stable economies go, expect the rapid growth to be curbed and for it to balance out to get back to normal numbers. That being said, the end of the year will still show extremely strong figures and the world is taking note. This growth has been consistent with most developed countries but Canada has been the real surprise with the massive surge that caught most analysts off-guard and is amongst the highest in the G7.

Canada's economy is known for being stable and consistent but this year has definitely turned some heads given that we are second among G7 countries in terms of net GDP growth over the past 8 months. Nearly 300,000 jobs have been added and growth at 2.5% is absolutely ridiculous.

One of the main assets that can stem from growth is that we now have an even stronger standing with regards to our international foothold given that we now have the numbers to back it up.

That being said, 2018 is expected to return to business as usual and things are going to slow down which is a far cry from the hectic increase in consumption and real estate that lead to this economic boost.

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