RBC Economics presents an in-depth analysis of the key drivers of economic activity in Canada and the United States, including global factors that affect near-term forecasts.
“But while Canada’s economic path forward remains challenging, it appears considerably less treacherous than it did just a few months ago.”
—RBC Quarterly Macroeconomic Outlook
The latest outlook highlights five recent developments that have been more positive than anticipated:
- Most Canadian exports have been exempted from increased US tariffs.
- “Hard” spending numbers have held up better than “soft” confidence measures.
- The Bank of Canada has room to cut rates further if needed.
- Canada maintains meaningful capacity to buffer against economic shocks and is increasingly well positioned to support the needs of the global economy.
- The de-escalation of US tariffs supports a slow but resilient outlook for the United States, improving Canada’s prospects as well.
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