Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

Canadian economy likely to expand 2.3 pct this year, exports and investment to drive growth

Through the early-2017, Canada’s economy continued to bolster; however, the sources of the accelerating growth of the nation are proving slightly different from the ones expected a few months ago, noted Scotiabank in a research report. In the hand-off from last year, the rising affordability concerns were expected to be a drag on housing and auto sales, while record consumer indebtedness and increasing interest rates would possibly hurt consumption growth.

These mild drags were expected to be countered by strengthening investment, rising non-energy exports, and follow-through on public infrastructure plans. However, housing, auto sales and consumption growth have not decelerated, whereas business capital spending and non-energy exports have not accelerated. Also, public-infrastructure spending is delayed, stated Scotiabank.

The main growth drivers of Canada’s economy continue to be the same and imbalanced. According to Scotiabank, the Canadian economy is expected to expand 2.3 percent this year, whereas it is likely to grow 2 percent next year. The sources of Canada’s GDP growth are projected to start shifting and diversifying in the year ahead, lowering the economy’s dependence on housing and consumption and increasing the contribution of exports and investment to growth, added Scotiabank.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

December 15 21:00 UTC Released

USOverall Net Capital Flows

Actual

151.2 Bln USD

Forecast

Previous

-51.3 Bln USD

December 15 21:00 UTC Released

USNet L-T Flows,Incl.Swaps

Actual

7.9 Bln USD

Forecast

Previous

65.1 Bln USD

January 9 11:00 UTC 3409134091m

BRRetail Sales MM*

Actual

Forecast

0.35 %

Previous

January 9 11:00 UTC 3409134091m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

January 9 11:00 UTC 3409134091m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

January 9 11:00 UTC 3409134091m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

January 9 11:00 UTC 3409134091m

BRRetail Sales MM*

Actual

Forecast

0.35 %

Previous

January 9 11:00 UTC 3409134091m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

December 12 09:30 UTC 63206320m

GBRPIX YY

Actual

Forecast

Previous

4.2 %

December 12 09:30 UTC 63206320m

GBPPI Input Prices MM NSA

Actual

Forecast

Previous

1 %

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.