This quarterly economic forecast provides highlights of the Canadian Outlook report, which presents the short-term national outlook.
Document Highlights
The Canadian economy is projected to grow by 2.1 per cent in 2018 before slowing to 1.9 per cent growth in 2019.
Household spending has been driving economic growth over the last several years but will ease in the face of high household debt loads, rising interest rates, and soft wage growth.
Residential construction will fall, pulled down by the lower demand for new homes and a weaker outlook for renovation spending.
Energy investment will remain weak due to ongoing weakness in Canadian oil prices. Energy exports will decline as low investment takes a toll on future production and government-mandated production cuts take effect in Alberta.
Stronger economic growth will depend on improved business investment and a better performance from the non-energy trade sector.
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