This report presents a mid-year update of our long-term national economic outlook.
Canadian Outlook Long-Term Economic Forecast: Mid-Year Update—2017
Canadian Outlook Long-Term Economic Forecast: Mid-Year Update—2017
Canadian Economic Analysis
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- While GDP will grow by more than 2 per cent this year, the economy will return to its slow-growth trend next year.
- Population aging is dampening our outlook for long-term economic growth, but the dismal performance over the next five years will be due mainly to chronically weak business investment taking a toll on economic prospects.
- Strong immigration will help to offset the population impacts of the aging of the baby boomers. Still, the elderly will continue to account for a rising share of the population.
- Business investment is expected to post robust long-term growth as firms substitute capital for increasingly scarce labour due to population aging.
- The trade sector is expected to perform well over the long term, thanks to stable growth in the U.S. economy and a weak loonie.
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