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The Conference Board lowered its projection of economic growth

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25 March, 2019 09:30

The canadian economy is expected to grow by only 1.4 % in 2019 and the federal budget, released last week, is unlikely to affect these perspectives, according to the team of national economy, the Conference Board of Canada.

“The weak growth that was evident at the end of 2018 is expected to continue until the first half of 2019. Despite this low growth, there is cause for optimism, but with caution, ” says Matthew Stewart, director of economic affairs. “Job creation and rising wages have increased sharply in the beginning of the year. In addition, the expected impact of the measures contained in the fall economic statement the federal government has not yet materialized. “

The Canada’s GDP growth will be supported by the trade sector this year, says the report. “Despite the decline in energy exports, the total exports projected to increase 2.0 % this year. Imports remain basically stable, the trade sector will support real GDP growth of 1.4% this year. “

The report adds that the prospects for next year are ” much more optimistic “, with capital spending planned to help the economy to record a growth of 2.0 %. Due to the economic slowdown, the Bank of Canada should ” stay on the sidelines this year, the rate increases being projected that by the year 2020 “.

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