Canada's economy is set to slow down even with a NAFTA deal, economists say

September 6, 2018

Much has been said about the importance of a trade deal with the U.S. for the Canadian economy, as officials from both sides of the border continue to try to hash out a new agreement.

But, even if a new NAFTA deal is reached, it will not prevent the Canadian economy from slowing down from the robust growth it has seen recently, economists said.

Royce Mendes, senior economist at CIBC Capital Markets, forecasts that gross domestic product (GDP) growth will fall to 1.8 per cent next year, and then drop to 1.3 per cent growth in 2020.

That compares to an expected two per cent growth rate this year, according to the Bank of Canada. The economy grew a strong three per cent last year...

This was excepted from 6 September 2018 edition of the CBC News.

Topic(s)

International Trade and Border Management

Information source

Canadian News Channel

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