Canada’s Outlook to 2045
Français 3-Year Outlook By CBoC Economics Team • Updated July 17, 2023
Long-term Letdown
Our long-term outlook for the Canadian economy takes into account near-term shocks but shifts the focus to the impact of demographic developments on Canada’s economy over the next two decades.
This impact paper updates our long-term forecast completed in the autumn of 2022. We have slightly changed our short-term views on the prospects for the Canadian economy, as real GDP is expected to expand by 0.9 per cent this year, up from a gain of 0.6 per cent anticipated last autumn.
Canada’s Outlooks to 2045
Demographics Rule the Day
We expect the global economy to regain some balance, and the further advancement of developing economies will provide both new markets for Canadian sales and new sources of competition.
January 25, 2023 • 25-min read
Canada’s Potential Output
Demographics
Energy
Challenges, Opportunities, and Uncertainties in the Energy Sector
January 26, 2023 • 20-min read
Forthcoming
Fiscal Policy
Labour Markets
Population Aging, Immigration, and Technological Transition
January 26, 2023 • 18-min read
Forthcoming
Monetary Policy
Increases in Immigration To Help Offset Effects of Population Aging
Once the pandemic loosens its grip on Canada and the world, economic growth will slow down sharply from the plus 4.0 per cent increase forecast for 2022 as the economy returns to some state of normalcy. Growth prospects are comparatively weak because the aging of Canada’s population will lead to a slowdown in labour force growth, which will limit consumer and investment spending.
November 23, 2021 • 36-min read
Aggregate Demand
Demand Is Shifting Gears
December 17, 2021 • 12-min read
Canada’s Potential Output
Economy Closely Tracks Potential Throughout
November 23, 2021 • 12-min read
Demographics
Population Aging Population Requires Immigration Backfill
November 23, 2021 • 17-min read
Energy
A New Path
November 29, 2021 • 16-min read
Fiscal Policy
Pandemic Leaves Its Mark
November 25, 2021 • 13-min read
Labour Markets
Population Aging Will Shape the Labour Market
November 23, 2021 • 15-min read
Monetary Policy
Economic Effects of Pandemic Could Linger
November 25, 2021 • 16-min read
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