The Canadian economy got off to a great start in the first half of 2017, and real gross domestic product is expected to grow by more than 2.5 per cent this year. But economic growth will slow in the second half of the year and into 2018.
Strong household consumption is the main driver of this year’s growth, and the July 2017 interest rate hike is welcome news because the Canadian economy no longer requires rock-bottom rates to reduce the negative fallout from lower commodity prices.
While improved global growth should allow for a modest improvement in Canadian exports next year, the outlook for trade is clouded by the risks of increased protectionism, including the NAFTA renegotiations.
Get The Conference Board of Canada’s latest global, national and provincial economic outlooks from Craig Alexander, in this insightful and engaging presentation that is a must-attend for both economic analysts and organizational decision-makers.