The Canadian economy had a surprise breakout performance in the first quarter of 2017, posting the fastest growing economy among the G7 thus far.
Although the economy has surprised in terms of output and employment growth, there are reasons for concern in the medium term. Household spending has been the backbone of Canadian economic growth in recent years, but the momentum is expected to slow. And the trade sector continues to underperform, even before we know the potential implications of a more protectionist Trump Administration.
International uncertainty will also put pressure on the Canadian economy. Elections in Europe, the rough beginning to the Brexit negotiations, the threat of rising protectionism, and geo-political tensions could all have an impact on Canada’s overall performance.
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