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2014-15 Economic Outlook report cover

Today, we issued our Economic Outlook for 2014-15.

In our Economic Outlook, we observe that, although Canada continues to recover from the recession better than other countries, the pace of growth has been slower than hoped. Consumer spending and housing activity are proving more resilient than expected, while the slow pace of global growth and ongoing competitiveness challenges have reduced demand for our exports and weighed on manufacturing production. Businesses also remain cautious when it comes to hiring and investing.

Against this backdrop, Canada’s economy is on track to expand by 1.7 per cent in 2013, matching the previous year’s sluggish pace. The economy is projected to grow by 2.3 per cent in 2014 and strengthen moderately to 2.5 per cent in 2015. To reap the full benefits of an improving global outlook, we need to strengthen our competitiveness, tap new markets and secure and grow our involvement in global supply chains.

Access the report.

This is the latest instalment in the Economic Policy Series.

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