In this report we set out here to examine some of the trends that will unfold in the year ahead – the risks to watch for and the opportunities to be had.
Coming into 2019, the U.S. economy was on firm ground, with growth projected to slow mildly, to 2½%. Canada enjoys several advantages, including strong population growth, an increasingly dynamic economy and our continued embrace of free trade, though we also face pressure from lower-than-expected oil prices and tightening financial conditions.
Add all this together, and we still believe it’s premature to say this year will mark the end of the expansion. So what will keep growth going? After years of ultra-low interest rates, it will have to be more than the consumer.
In 2019, the economy may finally have to stand on its own.