Canadian Growth to Lead G7: IMF

The International Monetary Fund is projecting Canada to lead the G7 for economic growth this year.

The IMF raised its outlook for Canada as part of its latest world economic outlook update, now expecting our economy to grow by 2.5% in 2017, up from its April projection of 1.9%.

The world body revised its 2017 outlook for Canada following strong growth in the first quarter and indications of "resilient second-quarter activity."

However, it trimmed its outlook for Canada for 2018 to 1.9% compared with its earlier forecast for 2%.

The IMF says global economic growth is expected to be 3.5% this year and 3.6% in 2018, unchanged from the April forecast.