U.S. inflation caused the economy to grow by 3.3% over the summer – it’s third fastest pace since the third quarter of 2014.
The growth rate is slightly exaggerated by inventories of goods yet to be sold, which contributed 0.8 per cent to the third-quarter Gross Domestic Product, GDP, growth which is up from the .73 percentage points previously reported.
Compared to the U.S., Canada’s economic growth was weaker, coming in at 1.7% for the third quarter after posting its best 12 month run for more than a decade.
That one year growth came in at 3%, slightly below the U.S economy, which is expected to sustain the 3% growth with lower taxes.
For the full story, see U.S. third quarter economic growth.