Lower interest rates won't prevent slowdown

Canada's economy will struggle over the next two years due to a housing-induced slowdown that potentially could push the economy close to stagnation before the end of 2016. While export and investment growth should improve somewhat, this won't be enough to counter an outright decline in housing investment and slower growth in household consumption. Overall, after growing by 2.0% this year, we expect the economy to grow by 1.5% in 2015 and only 1.0% in 2016.