Canadian Economic Outlook 2013-2014—Slow Growth Lingering
MAPI Economic Consultant David Boisclair discusses recent economic and industrial conditions and provides forecasts for Canadian manufacturing through 2014. Following very weak growth last year, Canadian GDP growth is expected to accelerate in 2013. The expectation is for stronger growth in the United States to supplement relatively weak domestic demand. Nevertheless, the strong Canadian dollar and government fiscal austerity are major headwinds this year. David provides detailed output by industry forecasts for Canadian manufacturing in 2013 and 2014.
Canadian GDP growth slowed nearly to a halt in the second half of 2012. The pace of growth is expected to accelerate in 2013.
The expectation is for stronger growth in the United States to supplement relatively weak domestic demand.
Canadian manufacturing GDP is forecast to increase 0.4 percent in 2013 and 3.0 percent in 2014.
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