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Nov 21, 2023 · Following an easing of these global supply-side challenges and the swift increase in interest rates by central banks around the world, inflation has come down significantly over the past year. Headline inflation in Canada fell from its June 2022 peak of 8.1 per cent to 3.8 per cent in September 2023 (Charts 4 and 5), while food price inflation ...
- Inflation Will Continue to Dominate 2023
- Recession Forecast
- Should Bounce Back
Even seasoned forecasters have found this a tricky period to navigate. The economy is awash in contradictions and the data are quite noisy. "I'm coming up on my 10th anniversary as chief economist. I would say 2020 was the weirdest [year]," said BMO's chief economist Douglas Porter. "But this [year's] is a very odd cycle." He points to the end of t...
Most private sector forecasts in Canada now assume there will be some kind of a recession in early 2023. Those forecasts assume that it will be short and mild. But it doesn't take much to nudge a short and shallow recession into something much worse. In fact, researchers at Oxford Economics believe Canada has already slipped into a recession. "Cana...
That could lead to a faster bounce back in economic growth. And eventually, it would open the door to a reduction in borrowing costs. A recession has proven to be a pretty effective tool to bring down prices. When the economy shrinks, people don't buy as much stuff. When they don't buy as much stuff, prices begin to fall and rebalance with demand. ...
Jun 26, 2023 · We have revised up our full-year 2023 growth forecast for Canada to 1.6%, given a surprisingly strong first quarter, though growth momentum will weaken materially in the second half of the year. We revised down our GDP growth forecast by 30 basis points to 1.2% for 2024, when the full effects of the Bank of Canada's monetary tightening will take hold in the economy.
The ultimate beneficiaries in 2023 will be the same as in 2022; provinces that produce commodities will have a better year than those that don’t—led by Saskatchewan, which will continue to benefit from strong global demand for agricultural products and fertilizer. Despite the global slowdown, Alberta and Newfoundland will continue to reap the rewards of high oil prices.
developments on Canada’s economy over the next two decades. This impact paper updates our long-term forecast completed in the autumn of 2022. We have slightly changed our short-term views on the prospects for the Canadian economy, as real GDP is expected to expand by 0.9 per cent this year, up from a gain of 0.6 per cent anticipated last autumn.
Apr 26, 2024 · Food insecurity data was collected during the Canadian Income Survey interview, which was conducted from January to June 2023, and is being released with the reference year 2022 income estimates. Food insecurity is the inadequate or insecure access to food due to financial constraints, and refers to the 12-month period prior to the interview.
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Mar 28, 2023 · Delivering the Canada Growth Fund. Announced in Budget 2022, the Canada Growth Fund—a new $15 billion arm's-length, public investment vehicle—will help attract private capital to build Canada's clean economy. Budget 2023 announces that the government intends to introduce legislative amendments to enable the Public Sector Pension Investment ...
