Fiscal Outlook for 2016:
Government of Canada’s Economic and Fiscal Outlook
According to private sector economists, real GDP growth in Canada over the next four years is expected to average 1.9% per year, while global equity markets rebound despite persistent instability following high volatility in the summer of 2015.
Manufacturing sales and exports are expected to continue growing in 2016 with a lower Canadian dollar and strong demand from the U.S., which is anticipating a 0.3% real GDP growth in 2016 as compared to 2014.
Commodity pricing (agriculture, crude oil, base metals, and natural gas) has been subject to slower growth than anticipated at the beginning of 2015 as a result of high inventory levels and slower than expected global economic growth, with crude oil prices of less than US$60 per barrel projected through 2020.
Fall Update 2015 Q1 2015 and Q2 2015 values are actual; all others are estimated/predicted
Source: “Update of Economic and Fiscal Projections: Chapter 2 - Economic Developments and Prospects”, Government of Canada, www.budget.gc.ca
