Canada Economics

Canada Economic Outlook

27 July, 2016

Policymakers will struggle to boost economy

The sharp drop in oil prices and the Canadian dollar have led to a rapid deterioration in Canada’s economic outlook, overwhelming the ability of policymakers to stabilise the economy with conventional stimulus. We expect GDP growth to be less than 1% in 2016. Discretionary fiscal stimulus should provide support in 2017, but a slump in housing investment means that GDP growth will be only modestly above 1%.

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