December 22, 2011
IMF raises economic outlook for Canada
The International Monetary Fund yesterday slightly raised its 2011 outlook for the Canadian economy.
The IMF had forecast growth this year of 2.1 percent in an October preliminary briefing on its annual report on the Canadian economy. The final report revised that figure upward to 2.2 percent.
Thanks to government policies, “a resilient financial sector and high commodity prices, the economy expanded well above its potential rate in 2010 and early 2011,” the IMF said in a statement.
However, “the pace of the recovery (since then) has slowed…
“While Canada’s medium term outlook remains broadly favorable, near term downside risks are high due to the financial market turmoil in Europe and rising household indebtedness,” it warned.
