This quarterly economic forecast provides highlights of the Canadian Outlook report, which presents the short-term national outlook.
Canadian Outlook Economic Forecast: Spring 2010
Canadian Outlook Economic Forecast: Spring 2010
Canadian Economic Analysis
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- Household and government spending roared ahead over the second half of 2009, putting Canada’s economy on a firm path of recovery that should see real GDP advance by 3.2 per cent this year.
- A revival in U.S. consumer spending is a necessary condition to the maintaining of strong growth into 2011, when federal and provincial governments will be pulling back hard on the reins of spending.
- Budding core inflation, higher energy prices, and rising sales taxes are expected to prompt the Canadian central bank to lift rates mid-year. Rate hikes in Canada will come ahead of those in the United States, sending the loonie above parity.
- Billions upon billions of dollars in stimulus spending by governments around the world have ensured that the global economy will post growth in 2010. However, the resulting deep deficits across many of the world’s economies increase the uncertainty about the medium-term forecast.
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