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2017 an economic win for Canada, no matter what happens in second half: report

With quarterly GDP figures putting it near the head of the G7 pack, it would take a major disruption to make 2017 anything but a big economic win for Canada.

But looking ahead to 2018, things are less certain, according to a recent report from Toronto-Dominion Bank.

“Whatever happens over the remainder of the year, 2017 will go down as a very good year for the Canadian economy” the report said.

“We are looking at the best GDP growth and job growth Canada has seen in almost a decade,” said TD senior economist James Marple, the report’s author, and that will hold true “even if we get zero growth in the second half of this year.”

So far in 2017, Canada’s GDP has grown at an annualized average of 2.5 per cent and 290,000 jobs have been created.

“Employment wise, we’ve seen a very strong few months in terms of numbers and a rise of full-time jobs,” said Brett House, deputy chief economist at Scotiabank.

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