LAS VEGAS, NV – The U.S. government itself shut down over the weekend, but the overall economy of Canada’s largest trading partner seems to be in good shape.
The country’s Gross Domestic Product expanded by 2.3% over the past year. “This is, all in all, a decent number but not an impressive number,” said Bill Strauss, senior economist and economic advisor with the Chicago Federal Reserve. Annual growth experienced in the 1990s was closer to 3-4%.
But steady growth like this can be good news, easing the concern about a market correction, he told a crowd at the Heavy Duty Dialogue in Las Vegas.
The country is in the midst of its third-longest expansion in history, now in its ninth year.