Survey of Forecasters: Summer 2003

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

Document Highlights

Forecasters surveyed by The Conference Board of Canada in July were more pessimistic about Canada’s economic prospects for 2003 and 2004 than those contacted in April.

• Respondents were less optimistic about economic growth for 2003. Real GDP growth of 2.1 per cent is anticipated in 2003, down from the 2.9 per cent growth projection of the spring survey.
• Respondents expect the Canadian dollar to continue to appreciate and reach close to U.S. $0.74 by 2004.
• Real GDP growth of 3 per cent is anticipated in 2004.