A stronger Canadian outlook would almost certainly rule out any interest rate cuts and could even see an increase however Shenfeld, along with other economists, is not overly optimistic that the early-year growth will last. Although the US is seeing growth in its labour market as companies expect economic growth, Canada’s job market is still crawling by comparison.
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The Canadian economy could outpace that of our neighbours by two to one. That’s according to CIBC economist Avery Shenfeld who predicts a 3 per cent pace for Canada’s growth in the first quarter of 2016 with the US around half that.