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: 2017
Canadian Outlook Long-Term Economic Forecast: 2017
Canadian Economic Analysis
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- The Canadian economy is unlikely to post growth in excess of 2 per cent for the foreseeable future.
- Business investment continues to lag, harming economic potential in the medium term.
- Despite the modest economic growth projected over the medium term, the output gap is expected to close by 2019. After that, economic growth will be constrained by weakness in potential output growth.
- Over the long term, potential output will be limited to annual growth below 2 per cent as the aging of the population puts downward pressure on labour force growth.
- Immigration will be vital to the Canadian economy over the coming decades, and the vast majority of population growth over the next 20 years will come from net migration.
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