OECD Cuts Canada’s Growth to 1.4% in 2016

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Sabtu, 16 Juli 2016

OECD Cuts Canada’s Growth to 1.4% in 2016

The Organization for Economic Cooperation and Development takes a much dimmer view of the Canadian economy, although its latest forecast is far more optimistic than other projections.

OECD now forecasts economic growth of only 1.4 per cent in Canada this year as the oil crisis wreaked havoc on the country, with a ripple effect outward. It is well shy of his appeal earlier in November to 2 percent.

The group also warned against the difficulties around the world, saying "collective stronger policy response is urgent."

Global economic growth will be stable this year, according to the group, remarkable in that 2015 marked the slowest in five years.

"the downward revision in the global outlook since the previous economic outlook in November 2015 is based largely spread over two advanced and major emerging economies, with major impacts expected in the United States, the area euro and the economies dependent on exports of raw materials, such as Brazil and Canada, "he warned.

Where Canada is concerned, its latest forecast is more optimistic than other projections.

via Globe and Mail

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