Canadian Outlook Executive Summary: Summer 2019 (WEB)
This quarterly economic forecast provides highlights of the Canadian Outlook report, which presents the short-term national outlook.
- The Canadian economy is projected to grow by just 1.4 per cent in 2019.
- Despite the slow growth, the economy is expected to post one of its strongest job gains on record this year, while tight labour markets are resulting in strong wage growth.
- Consumer spending will post another solid increase this year despite ongoing concerns about the elevated level of household debt.
- The housing market will continue to cool this year, with a decline in residential investment and prices.
- The outlook for business investment is weak. Businesses are expressing a great deal of pessimism about their future spending.
- Canada’s merchandise exports are expected to see no growth this year, held back by weakness in the energy sector and increased protectionism abroad.