Canada Economic Forecast
November 20, 2018Although available data suggests growth may have moderated in the third quarter, analysts remain upbeat about economic prospects for the remainder of the year. August’s firm growth reading was driven mainly by the energy and services sectors. Looking ahead to the fourth quarter, unemployment in October ticked down as the number of job seekers declined. A tighter labor market is expected to push up wage growth through year-end, which should keep household-spending growth afloat. Moreover, October’s modest recovery in housing starts confirmed the stabilization of the housing market. Meanwhile, Ivey’s PMI marked an impressive uptick in the same month on the heels of the newly-agreed United States-Mexico-Canada Agreement (USMCA). Firms breathed a huge sigh of relief on the trade resolution and non-residential investment is likely to remain buoyant through the end of the year as a consequence.
Canada Economic GrowthLooking ahead, economic growth is expected to continue moderating as the economy nears full capacity. Meanwhile, rising interest rates and slower job growth could dampen household spending and residential investment, thus further weighing on growth. That said, the USMCA will reduce uncertainty surrounding trade with the U.S. and, in turn, support mainstay export industries. FocusEconomics panelists estimate growth of 2.0% in 2019, unchanged from last month’s forecast, and 1.7% in 2020.
Canada Economy Data
5 years of Canada economic forecasts for more than 30 economic indicators.
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|Bond Yield||2.07||1.00 %||Dec 11|
|Exchange Rate||1.34||0.15 %||Dec 12|
|Stock Market||14,783||0.23 %||Dec 12|
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Canada Economic News
October 31, 2018
Economic growth came in at 0.1% in monthly terms in August, on the heels of a stronger 0.2% month-on-month expansion in July.
October 22, 2018
On 1 October, after more than a year of tense negotiations, Canada and the United States agreed to maintain their longtime free-trade relationship, seemingly ending an uneasy chapter of neighborly brinkmanship that, only months ago, had threatened to upend the continent’s trading landscape.
October 19, 2018
Seasonally-adjusted consumer prices fell 0.1% from a month earlier in September, contrasting August’s 0.1% rise.
September 28, 2018
Economic growth came in at 0.2% in monthly terms in July, on the heels of an essentially flat reading in June.
September 12, 2018
House prices rose 0.2% on a monthly basis in August as the Teranet-National Bank National Composite House Price Index ticked higher, down from July’s 0.8% month-on-month increase.