This quarterly economic forecast provides highlights of the Canadian Outlook report, which presents the short-term national outlook.
Canadian Outlook Economic Forecast: Summer 2011
Canadian Outlook Economic Forecast: Summer 2011
Canadian Economic Analysis
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- Greater caution among households and austere government spending will pull real GDP growth back to 2.5 per cent in 2011, down from 3.2 per cent last year.
- The U.S. economy slowed markedly in the first quarter, due in part to weather-related factors and supply-chain disruptions following the disaster in Japan.
- Because of external factors, risks to the outlook remain unusually high.
- These risks have kept the Bank of Canada on the sidelines with respect to rate hikes, despite solid first-quarter economic growth and a recent surge in consumer prices.
- Resource exports and business investment provide the bright spots to the outlook.
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