This annual economic forecast presents the long-term national outlook. The U.S. economic outlook is presented in a separate section.
Canadian Outlook Long-Term Economic Forecast 2015
Canadian Outlook Long-Term Economic Forecast 2015
Canadian Economic Analysis
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- Prospects for the United States economy are promising. We expect it to post its fastest annual growth in a decade in 2015 and 2016.
- Stronger U.S. growth will improve Canada’s trade performance and help lift real GDP growth to 2.6 per cent in 2015—a solid improvement over the lethargic pace of the past three years.
- Beyond 2015, the economy will approach its full capacity and economic growth will be restrained by slowing potential growth.
- Potential output growth is projected to be considerably slower over the next two decades, held back by the exodus of baby boomers from the labour market.
- Strong immigration will not reverse Canada’s aging trend, but it will help keep total population growth relatively stable, at close to 1 per cent annually. By 2035, Canada’s population will reach 43.5 million, up from just over 35.5 million today.
- Fiscal restraint will continue at both the federal and the provincial level, and the government sector will contribute little to economic growth over the next few years.
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