US EditionCanadian Economy Will Be Among Those Hit Hardest by Global Slowdown, Says OECD
- The OECD revised down its global growth outlook on June 3, 2025, highlighting Canada as one of the hardest-hit countries.
- The downgrade reflects increasing trade tensions, especially the Trump administration's tariff policies, which have slowed growth in the US, Canada, Mexico, and China.
- The OECD projects Canadian growth to decline from 1.5% in 2024 to 1.0% in 2025 due to trade tensions with the US, its largest export market.
- Mathias Cormann warned that raising trade restrictions further or ongoing uncertainty in policy could weaken economic growth and potentially lead to higher inflation, highlighting the risks connected to tariffs.
- The report warns that persistent trade barriers and uncertainty could deepen the slowdown, disrupt supply chains, and increase inflation, urging constructive dialogue among governments.
13 Articles
13 Articles
Recession or not, Canadians are going to have a difficult time because of the economic downturn in the coming months, warns the chief economist of Desjardins Group, Jimmy Jean.
Canadian economy will be among those hit hardest by global slowdown, says OECD #Canada #CDNNews #Economy #CanadaLife #CanadaNews
Global economic growth is slowing more than was expected only a few months ago, as the fallout from the Trump administration’s trade war continues, the OECD said on Tuesday, and Canada is among the countries where the downturn is most concentrated. The Organization for Economic Co-operation and Development (OECD) revised down its outlook, trimming its estimates from March for growth of 3.1 per cent this year and 3.0 per cent next year. The globa…
Experts also downgraded the prospects of the United States, China, Japan and Russia
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