Macro - Country Economic Forecasts - Canada

Macro - Country Economic Forecasts - Canada



We've upgraded our 2025 GDP growth forecast for Canada by 0.2ppts to 1.5% and still expect 1.7% growth in 2026. Lower interest rates, looser lending guidelines, and new temporary fiscal stimulus should support a modest pickup next year, buffeted by a shrinking population.


Canada: Economy will improve in 2025, but tariff threats loom large
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Background
Economic development
Structure of the economy
Balance of payments and structure of trade
Policy
Politics

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