Canadian Outlook Executive Summary: Winter 2016
The Conference Board of Canada, 13 pages
February 4, 2016
This quarterly economic forecast provides highlights of the Canadian Outlook report, which presents the short-term national outlook.
- The economy will remain sluggish through 2016, with expected growth of 1.7 per cent.
- With oil supply expected to outpace demand this year and next, we expect oil prices to remain below US$50 a barrel until the end of 2017.
- Business investment will see a third consecutive year of decline, led by large cuts in the energy sector.
- The weak dollar and a strong U.S. economy will allow the trade sector to make a sizable contribution to growth.
- The Bank of Canada is expected to keep its overnight rate at its current level until at least early 2017.