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This quarterly economic forecast presents the medium-term outlook for the Canadian economy. This release focuses on household consumption. For an overview of all major components of the economy, go to the Canadian Outlook main page.
Real household spending will grow by only 0.8 per cent in 2024, while real per capita spending will fall by an estimated 1.6 per cent. In which areas will household spending cuts be most evident? When will household spending start to revive? Rising mortgage costs will remain a burden on household finances. Will mortgage rates continue to increase this year and next?
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