[vc_row][vc_column][vc_column_text]The largest binge in household spending since before the recession of 2008-2009 has contributed to Canada’s 4.5% annualized rate of economic growth in the second quarter of 2017. This unexpected increase placed Canada at the top of the Group of Seven (G-7) countries. Economists forecasted a 3.7% rate of annualized GDP growth, the same as the first quarter growth rate. This was the fastest annualized economic growth in six years. Canadian Visa Expert is an immigration firm that helps foreign nationals who want to move to Canada with the application process.
Due to the nation’s rapidly-growing economy, it looks as if the Bank of Canada will raise interest rates again this year. In a note to investors, Bank of Montreal Chief Economist, Doug Porter, said, “The hits just keep coming for the Canadian economy. Even the naysayers will struggle mightily to find fault in this rock-solid report.”
After the report, Canada’s dollar increased 0.5% to $1.2551. Out of the Group of 10 currencies, the Loony was the top gainer. It traded at 79.67 US cents. Also, two-year government bonds increased to 1.28%, four basis points. Canadian Visa Expert is an independently-owned immigration firm that will help you with your eligibility and application to get moved to Canada.
Canada is profiting from the merging materialization of rising trade volumes and a harmonized global recovery. Federal deficit spending, industrial production in developed economies, the decrease of the oil shock in western Canada, and rising cost of home prices in Vancouver and Toronto are helping to aid this increase. There have been four quarters in a row of above-potential growth, averaging 3.7% – this is the greatest fourth-quarter average since 2006.
The nation’s consumers contributed to this strong economic growth, enjoying the rising home values and resilient job market. Household consumption saw a gain of 4.8% in the first quarter, followed by 4.6% in the second. These increases were not due to lower savings rates, but by disposable income. Personal savings actually increased 4.6%. The Bank of Canada has been showcasing the reason for higher rates as a broad-based nature of expansion, and it has continued into the second quarter. Contact Canadian Visa Expert today for information on how you can get moved to Canada![/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_video link=”https://www.youtube.com/watch?v=RKmF-H1r6ho” align=”center”][/vc_column][vc_column width=”1/2″][vc_video link=”https://www.youtube.com/watch?v=sAKbNKdK-30″ align=”center”][/vc_column][/vc_row]