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Canada will avoid a technical recession this year, Deloitte says in upgraded outlook
['Mon', 'September', 'At P.M. Gmt', 'Min Read']
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(Credit: THE CANADIAN PRESS/Andrew Lahodynskyj)Deloitte Canada expects the Canadian economy will avoid a technical recession, with a return to low growth in the third quarter, according to its latest outlook released on Monday.
Monday’s outlook revised third quarter GDP up to a positive 1.2 per cent.
Looking to next year, the report forecasts growth will improve, with Canadian economy set to grow by 1.7 per cent.
“We do expect business confidence to improve,” said Deloitte Canada chief economist Dawn Desjardins.
“Over time, that takes about two and half per cent off our GDP … over a five-year period.