This quarterly economic forecast provides highlights of the Canadian Outlook report, which presents the short-term national outlook.
Canadian Outlook Economic Forecast: Summer 2017
Canadian Outlook Economic Forecast: Summer 2017
Canadian Economic Analysis
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- The Canadian economy got off to a great start in 2017, thanks to strong household consumption and a pickup in machinery and equipment investment.
- GDP is expected to increase by a solid 2.6 per cent this year before falling back to growth of less than 2 per cent in 2018.
- Households are the main driver of this year’s strong performance. However, elevated debt levels, slowing job growth, and easing house prices will take some of the steam out of consumer spending in the second half of this year.
- Business investment is expected to decline for the third consecutive year but make a modest recovery in 2018.
- Non-energy exports will see little growth in 2017. While stronger global growth should allow for a modest improvement next year, the outlook for trade is clouded by the risks of increased protectionism.
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