Survey of Forecasters: Autumn 2001

This quarterly survey reflects the opinions of Canada’s top forecasting organizations and their outlook for the Canadian economy.

Document Highlights 

The forecasters surveyed have significantly reduced their expectations for real GDP growth in the 2001–2002 period. Real GDP is now expected to grow by only 1.5 per cent this year and 1.7 per cent in 2002.

• The major factor behind weaker growth expectations is the outlook for exports, which have been hurt by the much slower growth in the U.S. economy.
• Real consumer spending is expected to increase by 2 per cent in 2002. In July, panelists anticipated 3.1 per cent growth.