Economy: Canadian Outlook
5-Year Outlook By CBoC Economics Team • Updated: July 7, 2025, 24 min read
Author: Cory Renner, David Ristovski, Doris Chu, Jake Lenarduzzi, Kiefer Van Mulligen, Maxime Arseneau, Meghan Eibner, Richard Forbes, Robin Wiebe
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Summary: Uncertain Days to Persist
The Canadian economy performed better than expected over the first three months of the year, expanding by an annualized 2.2 per cent. Unfortunately, we see the positive momentum stalling throughout the remainder of the year. Uncertainty will continue to cast a dark cloud over the economy, as the U.S. administration’s on again, off again tariff policy has caused substantial uncertainty, leading to widespread impacts on the economy. Canadians remain concerned about their jobs and financial outlook, which will stifle discretionary spending over the short term, and the poor sentiment will continue to dampen an already cooling housing market.
July 7, 2025 • 24-min read
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