(November 22 – 11:20 ET) – Key structural changes over the past decade in Canada — including globalization and better inventory control — are helping to moderate the traditional boom-bust cycle, according to the latest Canadian Quarterly report released today by Scotia Economics.
“Canada’s current economic expansion, which began in June 1992, is just six months shy of becoming the longest of the post-war era,” said Adrienne Warren, senior economist, Bank of Nova Scotia.
Scotia Economics forecasts that the Canadian economy will expand by 4.8% in 2000, rivaling the 5.2% projected advance in the United States. Next year, slowing U.S. momentum, the wealth dampening impact of the recent equity market fallout and rising energy costs are expected to trim growth to 3.6%.
“The longer, stronger and more pervasive the expansion becomes, the more likely that a greater number of regions and individuals will participate in the prosperity,” concluded Warren.
-IE Staff
Canadian economy to expand by 4.8% in 2000
IE Staff