Macro - Country Economic Forecasts - Canada
Canada’s economy successfully weathered the Omicron wave in Q1, but slower growth is on the horizon. An increasingly hawkish Bank of Canada, inflation at a four-decades high, fallout from the war in Ukraine, and a correction in house prices are all expected to contribute to a sharp slowdown in economic growth next year. We forecast GDP will rise 4.1% in 2022 before growth decelerates to 2.2% in 2023, unchanged from last month.
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