This quarterly economic forecast provides highlights of the Canadian Outlook report, which presents the short-term national outlook.
Canadian Outlook Economic Forecast: Summer 2013
Canadian Outlook Economic Forecast: Summer 2013
Canadian Economic Analysis
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- Canada’s real GDP growth is forecast to advance by 1.7 per cent in 2013—a second consecutive year of rather tepid growth.
- However, the U.S. economy is gaining traction, leading to a better performance in 2014.
- Financial and equity markets seem to have shaken off the jitters associated with the Cypriot bank crisis; still, downside risks to the forecast should not be dismissed.
- The U.S. Federal Reserve has reworded its policy on quantitative easing; the program will continue until the unemployment rate falls below 7 per cent.
- This year’s weak economic growth and soft inflation will result in soft revenue growth for provincial and federal governments struggling to beat back deficits.
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