RBC ECONOSCOPE – Latest edition, January, 2010
Canada’s economy showed signs of picking up pace in the final-quarter 2009. An increase in employment in the quarter spurred a rise in retail spending and helped the strong rally in the housing market. This increase in household activity everberated throughout the economy with manufacturing and wholesale activity rising as well.
We expect real GDP growth of 3.4% for the final-quarter 2009 and boosted our forecast for growth in the first half of 2010. We look for Canada’s economy to grow at a trend-like 2.8% this year, accelerating further in 2011 with growth forecasted to average 3.9%. …AND IS ENTERING 2010 ON FIRM FOOTING. Read the rest of this entry »