This quarterly economic forecast provides highlights of the Canadian Outlook report, which presents the short-term national outlook.
Canadian Outlook Economic Forecast: Winter 2017
Canadian Outlook Economic Forecast: Winter 2017
Canadian Economic Analysis
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- Despite strong third-quarter growth, we estimate the economy grew by just 1.3 per cent in 2016.
- Economic growth was held back by weak business investment and a disappointing export performance.
- In 2017, economic growth is expected to accelerate to 1.9 per cent, as the energy sector is less of a drag on the economy, exports manage a slightly better performance, and government stimulus ramps up.
- But this will be partly offset by slowing consumer spending and declining residential construction.
- The central bank will keep its key rate at current levels until April 2018. A widening interest rate differential between Canada and the U.S. will put downward pressure on the loonie over the near term.
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