This quarterly economic forecast provides highlights of the Canadian Outlook report, which presents the short-term national outlook.
Canadian Outlook Economic Forecast: Autumn 2005
Canadian Outlook Economic Forecast: Autumn 2005
Canadian Economic Analysis
$465.00
- Higher energy prices and increasing financing rates will take some steam out of buoyant consumer spending heading into 2006.
- Real GDP growth is expected to settle in at 2.7 per cent this year; a better trade performance will lift growth to 3.1 per cent in 2006.
- Katrina and concern that other hurricanes could hit the Gulf have bolstered oil prices to new highs. The strength in energy prices and resumption of interest rate hikes have strengthened the Canadian dollar; it is expected to remain around US$0.83 over the rest of 2005.
- The strong loonie will prompt the Bank of Canada to take a measured approach when tightening monetary policy; short-term rates are expected to climb roughly 1 percentage point by the end of 2006.
- While the impact of Katrina on the U.S. economy is pronounced, weighing down economic growth this year, the rebuilding phase will provide a boost to the economy in 2006.
- Housing starts eased sharply in August, another sign that residential construction will slow.
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