What’s Happening In The Canadian Economy?
The Conference Board of Canada has released a 124-page analysis of the Canadian economy—where it is, and where it is headed. The study said:
- Economic growth is expected to improve in the coming months—from 1.6 percent in 2019 to 1.8 percent in 2020—but “is unlikely to exceed two percent over the long term.” Growth will average only 1.7 percent between 2020 and 2040.
- Consumer spending, which has been a weak spot over the last several months, “should accelerate in 2020,” but “high levels of household debt will limit this improvement.”
- Slowing global growth and ongoing trade tensions will prevent a stronger exports’ performance in 2020.
- Slower growth in the labor force and in business investment, which is still below 2014 level, also will constrain economic growth in 2020.
- Uncertainty in the energy economy also will continue to plague Canadian markets while inflation will remain moderate.
Click here to read the full report.