US EditionCanadian economy to resume growth in 2024: report
- Deloitte Canada predicts that Canada's economy will rebound in the first half of next year, followed by a stronger recovery in the second half of 2024 when the Bank of Canada is expected to lower interest rates.
- According to the forecast, GDP is projected to increase by 1% this year and 0.9% next year, after a previous prediction of a 0.9% contraction in 2023. Additionally, consumer spending is estimated to grow by 2% this year and then slow to 1.2% in 2024.
- Deloitte Canada expects the overnight interest rate to reach a neutral level of three percent by mid-2025.
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Canadian economy to get 'back on its feet' next year, Deloitte Canada forecasts
Canada's near-term economic struggles will ease next year when growth returns and the Bank of Canada begins cutting its key lending rate, a new forecast from Deloitte Canada said. A better-than-expected U.S. outlook and continued population growth here will offset some of the downward pressure f...
·Kelowna, Canada
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Total News Sources23
Leaning Left7Leaning Right3Center3Last UpdatedBias Distribution54% Left
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54% Left
L 54%
C 23%
R 23%
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