Canadian Outlook Executive Summary: Autumn 2015
The Conference Board of Canada, 13 pages
October 27, 2015
This quarterly economic forecast provides highlights of the Canadian Outlook report, which presents the short-term national outlook.
- The Canadian economy experienced a mild recession in the first half of the year as a drop in oil prices led to a substantial decline in business capital investment.
- The recession is now behind us, and the economy is expected to post solid growth for the second half of 2015.
- Next year, we expect economic growth to accelerate to a more respectable 2.3 per cent, driven by a pickup in exports and steady consumer spending.
- The Bank of Canada is expected to keep its overnight rate at its current level until 2017, as the economy slowly returns to potential.