Canadian Outlook Executive Summary: Autumn 2013
This quarterly economic forecast provides highlights of the Canadian Outlook report, which presents the short-term national outlook.
- Following a subpar performance in 2012 and 2013, Canada's real GDP growth is expected to improve over the next two years, boosted in part by stronger growth in export volumes.
- Risks to the global economy remain, however, especially in Europe where the economic recovery is fragile and politics have gotten in the way of essential economic reforms.
- In the United States, divisive federal politics have added volatility and uncertainty to the economic outlook there. Yet, despite the political squabbling, the private sector recovery continues to forge steadily ahead.
- Fiscal restraint here in Canada will continue at the federal and provincial levels of government. A few provinces have managed to beat back their deficits this year and, absent any surprises, the federal government should return to surplus in 2015–16.