This quarterly economic forecast provides highlights of the Canadian Outlook report, which presents the short-term national outlook.
Canadian Outlook Economic Forecast: Summer 2016
Canadian Outlook Economic Forecast: Summer 2016
Canadian Economic Analysis
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- Despite a strong start to the year, we have downgraded our projection for economic growth in 2016 to just 1.4 per cent.
- The wildfires that engulfed much of Fort McMurray and the surrounding areas in May and June are expected to subtract 0.1 percentage points from overall economic growth this year.
- The U.S. economy got off to a slow start and the world economy is losing steam. These factors will hurt Canada’s trade sector.
- The largest source of weakness in the economy remains the steep deterioration in business investment. While much of the weakness in business investment is due to the collapse in energy investment, there is still no sign of the long-awaited recovery in non-energy investment.
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