This report presents a mid-year update of our long-term national economic outlook.
Canadian Outlook Long-Term Economic Forecast: 2016 Mid-Year Update
Canadian Outlook Long-Term Economic Forecast: 2016 Mid-Year Update
Canadian Economic Analysis
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- Slow growth is the new normal for Canada.
- Weak business investment has had a significant impact on the near-term outlook for potential output.
- In the longer term, an aging population will put downward pressure on our potential output.
- Strong immigration will help sustain decent population growth but it will not be enough to offset the aging trend that will accelerate over the next 20 years.
- Our modest economic growth projection over the medium term will be enough to reduce the output gap, which is expected to close by 2019.
- Stable growth in the U.S. economy along with a relatively weak loonie will support growth in Canada’s trade sector over the medium and long term.
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