Stephen Poloz, the Bank of Canada Governor, said his country's growth had disappointed him, even if the gains show that signs of regaining momentum are returning. He told reporters in Washington as he attended the G20 officials' meeting, "It's fair to say that growth has disappointed us to this stage."

He added, "We are behind where we thought we would be let's say a year ago, or even for that matter six months ago."

Senior Deputy Governor Tiff Macklem said that the Canadian economy would expand more slowly than the central bank had forecasted. This is because, according to figures from last month, exports and business investment remain 'elusive'. During a speech last October 1, Macklem said that Canada's gross domestic product would need to expand faster than 2.5%  in order to overcome the slack in the economy. This figure is expected to be met by the second half of 2013.

Poloz further added, "What we need is growth that is significantly above 2% to begin reducing the excess capacity that we have in the economy.There are positives, just not big enough positives for us to be fully confident that we are all the way there. The gradual process of healing countries."