This quarterly executive summary provides highlights of the Canadian Outlook that presents the short-term national outlook.
Document Highlights
- Restrained by a number of key domestic developments, growth will reach 3 per cent in 2004 and 3.2 per cent in 2005.
- The U.S. economy will churn out impressive growth of 4.4 per cent in 2004 and 3.6 per cent in 2005.
- Canada’s dollar will continue to slide, fetching $0.737 U.S. in 2004 and $0.72 U.S. in 2005.
- Monetary tightening will commence early in 2005, with shortterm interest rates heading up 185 basis points during the year.
- Housing starts are expected to tumble from 220,000 units this year to 186,000 in 2005.
- Government spending will lag well behind the rest of the economy in the near term.
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