Canada Q1 economic growth leaps to 3.7pc

Canada's economy roared back to life in the first three months of this year, as more business and household spending pushed growth to 3.7 percent, the government's statistical agency announced Wednesday.

The gross domestic product (GDP) was in line with expectations after an annualized 2.6 percent uptick in the final months of 2016 -- placing Canada's growth ahead of its G7 peers.

By comparison, US GDP grew 1.2 percent in the quarter.

Purchases of passengers cars and trucks led the increase in consumer spending, according to Statistics Canada.

Spending on housing, water, electricity, gas and other fuels, recreation and culture, and clothing and footwear also increased, the agency said.