This quarterly economic forecast provides highlights of the Canadian Outlook report, which presents the short-term national outlook.
Canadian Outlook Executive Summary: Autumn 2009
Canadian Outlook Executive Summary: Autumn 2009
Canadian Economic Analysis
$550.00
- Aggressive intervention by governments around the globe has stabilized financial markets. The global economy will receive further stimulus, as fiscal measures are expected to peak in 2010.
- The U.S. economy has hit bottom. Growth is expected to return over the second half of 2009 and into next year. Still, U.S. household spending and private non-residential investment will show little strength until 2011.
- Real GDP will rebound more vigorously in Canada. Rising consumer confidence and low financing rates should help loosen purse strings, while generous government spending will also add to growth.
- A rebound in retail gasoline prices from year-ago lows will help the all-items consumer price index move from deflation back to inflation by the end of this year.
- Strong statements from the Bank of Canada have failed to stop the loonie’s latest flight. The dollar is expected to average just under US$0.92 in 2010.
- Federal and provincial governments will suffer deep deficits in coming years, with the provinces facing the biggest struggle to rebalance their books.
- The past three quarters have seen roughly $106 billion in profits evaporate from corporate balance sheets. Tight cash and credit will hold back a strong recovery in private investment until 2011.
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