IMF leaves economic outlook for Canada unchanged

The International Monetary Fund has cut its growth projection for the world this year but left its outlook for Canada unchanged from its earlier estimates in October.

See Full Article

In its revision to the semi-annual World Economic Outlook, the Washington-based lender predicts the global economy will grow by 3.4 per cent in 2016 -- down from 3.6 per cent in the earlier estimate.

The IMF also cut its global growth projection for 2017 by two-tenths of a percentage point to 3.6 per cent.

It says China's efforts to change structure from an economy led by exports and infrastructure investment to a consumption-oriented economy are among the factors that will continue to "weigh on growth prospects" this year and next.

The IMF left its growth projection for Canada for this year unchanged at 1.7 per cent -- up from estimated growth of 1.2 per cent last year.

But it cuts its Canadian outlook for next year to 2.1 per cent from the 2.4 per cent projected last fall.

It also cut the outlook for the United States by two-tenths of a point to 2.6 per cent growth both in 2016 and 2017.



Advertisements

Latest Economic News

  • Trans Mountain IPO to proceed despite B.C. Green-NDP deal, Kinder Morgan says

    Economic CTV News
    CALGARY -- Kinder Morgan says it expects to proceed Tuesday with its initial public offering for the Trans Mountain expansion, just as the anti-pipeline Greens and NDP in B.C. announced they have come to an agreement that could cast the project's future into doubt. Source
  • Trans Mountain IPO to proceed despite B.C. Green-NDP deal

    Economic CBC News
    Kinder Morgan says it expects to proceed Tuesday with its initial public offering for the Trans Mountain expansion, just as the anti-pipeline Greens and NDP in B.C. announced they have come to an agreement that could cast the project's future into doubt. Source
  • Health Canada cancels recall of Ardene children's jewelry

    Economic CBC News
    In an unprecedented move, Health Canada has cancelled its recall of children's jewelry sold by Canadian retailer Ardene after follow-up tests found the pieces don't actually contain excessive amounts of lead. It's the first time that a recall notice for a consumer product has been removed since the Consumer Product Safety Act came into force in 2011. Source
  • Oilpatch recovery to boost Alberta, Saskatchewan growth, says Conference Board

    Economic CTV News
    CALGARY -- The Conference Board of Canada says a slow recovery in the oil and gas sector will allow Alberta and Saskatchewan to emerge from recession and lead the provinces in economic growth this year. Source
  • Mortgage broker's late sponsorship bet pays off as Takuma Sato ends up winning Indy 500

    Economic CBC News
    When Takuma Sato took home the checkered flag at the Indy 500 on Sunday, the Japanese race car driver wasn't the only big winner. One of the main sponsors of his car, Indiana-based lender Ruoff Home Mortgage, only decided to put financial support behind Sato's Andretti Racing Team early last week. Source
  • Boeing says trade complaint against Bombardier designed to prevent larger CSeries

    Economic CTV News
    MONTREAL -- Boeing says its trade complaint against Bombardier is designed to prevent the Montreal-based rival from using subsidies to produce a larger version of the CSeries plane that would directly compete with its own flagship narrowbody 737 aircraft. Source
  • Asian shares muted as investors await raft of economic data

    Economic CTV News
    TORONTO -- Canada's main stock index was little changed in late-morning trading as U.S. stock markets took the day off for the Memorial Day holiday. The S&P/TSX composite index was up 1.59 points to 15,418.52, after 90 minutes of trading. Source
  • TSX flat as U.S. markets take day off for holiday; loonie up

    Economic CTV News
    TORONTO -- Canada's main stock index was little changed in late-morning trading as U.S. stock markets took the day off for the Memorial Day holiday. The S&P/TSX composite index was up 1.59 points to 15,418.52, after 90 minutes of trading. Source
  • World shares muted as investors await raft of economic data

    Economic CTV News
    HONG KONG -- World stock markets were listless Monday as investors look to a raft of economic data this week and as holidays in several key markets crimped trading volume. KEEPING SCORE: In Europe, France's CAC 40 dipped 0.1 per cent to close at 5,332.47, while Germany's DAX edged up 0.2 per cent to 12,628.95. Source
  • Toronto stock index makes small gain, led by bank and industrial stocks

    Economic CTV News
    TORONTO -- Canada's main stock index barely advanced Monday amid a quiet trading session while U.S. markets took the day off for Memorial Day. In Toronto, the S&P/TSX composite index inched up 4.98 points to 15,421.91 as bank and industrial stocks made gains. Source