Survey of Forecasters: Winter 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 in January have not significantly changed their views on Canada’s economic prospects for 2003. In the current update:

• Real gross domestic product (GDP) growth of 3.3 per cent is anticipated for 2003, increasing to 3.4 per cent in 2004.
• Real consumer spending growth of 2.8 per cent is considered likely this year.
• Real residential construction has been upgraded from 0.2 per cent last fall to close to 3 per cent.
• Respondents expect interest rates to increase at a slower pace than they did last fall.