Canadian Outlook Economic Forecast: Winter 2002

This quarterly economic forecast presents the short-term national outlook.

Document Highlights 

The Canadian economy will eke out paltry growth over the winter months but come to life again in the spring of 2002. Data now reveal the extent to which the North American economy was broadsided by the tragic events of last September.

• After expanding by 1.4 per cent in 2001, the economy will grow by 1.6 per cent in 2002 and 4.3 per cent in 2003.
• Growth is forecast to accelerate sharply during 2002.
• The U.S. economy, now in a mild recession, will rebound in 2002.
• Fiscal monetary policy remain stimulative.
• Exports and investment in machinery and equipment are the economy’s soft spots.