June 12, 2023
The world is still adjusting to the aftershocks of COVID-19 and the war in Ukraine. The economy is slowing down, but there is still excess demand; core inflation is high and labour markets are tight. Policy interest rates are high and unlikely to be cut soon. There are risks of recession or financial disruption. Governments and businesses have to navigate these uncertainties while adapting to a more fragmented, supply-constrained world. Demographic change, the response to climate change and digitalization are shaping the economy of tomorrow. Will Canada have the right workers with the necessary skills and capital to succeed? Will a new industrial policy for a clean economy help Canada close a chronic investment gap, increase innovation and raise productivity growth?
Our 2023 mid-year Economic Outlook analyzes recent developments, short-term prospects and risks, and long-term trends to inform business planning. David Dodge and Serge Dupont presented a baseline scenario for the Canadian and U.S. economies to the end of 2025. Looking beyond this horizon, they discussed how governments and businesses can create the conditions to compete in a changing world and to grow the economy sustainably. Moderated by Claire Kennedy, this presentation of the Economic Outlook included a Q&A session, offering attendees the opportunity to address your most pressing questions and concerns.
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