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S&P Forecast Sluggish Canadian Growth For Next Two Years

CANADA
Headlines from S&P's Economic Outlook 1Q24:
  • S&P: Canadian Economy Is Already Flirting With Technical Recession (as Defined by Two Consecutive Quarters of Contraction) - DJ
  • S&P Revised Down Canada GDP Growth for This Yr by 10 Basis Points to 1.1% - DJ
  • S&P Forecast Sluggish Canadian Growth of 0.8% in 2024 and 1.4% in 2025 DJ
It paints a similar picture to the BoC in the nearer-term, with the Bank forecasting real GDP growth at 1.2% for 2023 and 0.9% for 2024, but S&P are clearly more pessimistic into 2025 with their 1.4% vs the 2.5% the BoC has pencilled in.

A reminder that we get GDP for Q3 and Sep/Oct advance on Thu.

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