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FILE PHOTO: A Canadian dollar coin, commonly known as the “Loonie”, is pictured in this illustration picture taken in Toronto, January 23, 2015.

REUTERS/Mark Blinch/File Photo

US government spending drives growth as Canada flatlines

The US economy is growing much faster than Canada’s – while north-of-the-border GDP has been flat for months, the Americans posted a 4.9% growth rate in the third quarter.

What accounts for the difference? Experts point to higher US spending – both public and private – as well as lower debt loads. Canadians carry the heaviest household debt in the G7. The country is also, of course, suffering from a brutal housing crisis that is showing no signs of abating.

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us economycanada economyus canada economy

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