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Conference Board of Canada raises forecast for Canadian economic growth in 2018

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Staff Writer | September 21, 2018
Canada manufacturing
Canada   The Canadian economy performed well in the second quarter of 2018

The Conference Board of Canada expects the Canadian economy to grow by 2.0 per cent in 2018, up 0.2 percentage points from its previous forecast.

"The Canadian economy performed well in the second quarter of 2018, with consumers increasing their pace of spending, businesses raising investment in their capital stock and a double digit increase in exports," said Matthew Stewart, Director, National Forecast. "However, significant challenges remain, which will slow growth over the remainder of the year and into 2019."

Risks to this forecast are substantial due to trade uncertainty. A collapse of NAFTA would likely subtract 0.5 per cent from growth. Meanwhile, there is a broader risk if the U.S. and Canada increase tariffs. This could subtract as much as 1.3 per cent from Canada's economic growth over a two-year period, according to the Conference Board's Canadian Outlook: Autumn 2018.

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