Canadian economy to grow 2.9 percent in 2011

OTTAWA: The Canadian economy is forecast to slow less than previously expected and grow 2.9 percent this year, the government said on Tuesday. In September, Ottawa had predicted the economy would grow at a rate of 2.5 percent in 2011 and lowered its outlook in February. However, the central bank said in its last statement that the recovery is proceeding "slightly faster than expected" after posting 3.1 percent growth last year. Private sector economists, meanwhile, see the prospects for stronger global growth, particularly in the United States, and higher commodity prices benefiting the Canadian economy.