Canadian Outlook Economic Forecast: Spring 2004

This quarterly executive summary provides highlights of the Canadian Outlook that presents the short-term national outlook.

Document Highlight

• Canadian real GDP will grow by 2.8 per cent in 2004 and by 3.1 per cent in 2005.
• The U.S. economy is forecast to expand by an explosive 4.3 per cent this year before settling back to 2.7 per cent growth in 2005.
• Interest rates will be cut by a total of 75 basis points early this year.
• The Canadian dollar is forecast to average $0.743 U.S. this year and to continue sliding gently to $0.721 U.S. in 2005.