OTTAWA — We know the Canadian economy has been performing as expected, which means moderately — and that’s being generous.
But it’s the level of growth in the coming months, and years, that is punctuated with question marks.
On Tuesday, it was Finance Minister Bill Morneau job to provide a big chunk of guidance — even though we’re still only halfway through fiscal 2016-17, and a lot of uncertainty will be spread into the foreseeable future.
The assessment, in short, is disappointing.
OTTAWA — It may not be smooth sailing after all for the Canadian economy.
Many positive outlooks for growth in 2014 have been buoyed by a stronger-than-expected performance in the third-quarter of last year — along with a pickup in the global economy overall — but some analysts are sounding a more pessimistic tone.
“The consensus view that economic growth will accelerate this year is misplaced,” say economists at Capital Economics.
LONDON: The coming week will provide clues on whether the global economy is escaping from its lacklustre growth rut, amid growing concerns of another downturn which central banks have few tools left to fight. China has become the focal point for economists as they fear a hard landing there could send countries that have only just escaped from the doldrums reeling back into recession. Beijing will publish September trade data on Tuesday and inflation on Wednesday and any significant deviation from expectations could set the tone for the week.
This is the most disappointing chart in the US economy, via Deutsche Bank's Torsten Sløk. What we're looking at here is an economy that appeared close to reaching "full capacity" and "full employment" before drifting away from those milestones.
At 1 p.m., President Barack Obama will give a speech on the economy at Knox College in Illinois. It's the first in a series of economic speeches Obama will give in the coming weeks. The White House has set up a website to promote the speeches. So far, it has no real policy content. But it does have this chart.
Economic forecasters say they expect the American economy to advance at a faster pace in the coming months.
The U.S. economy shrank one percent in the first three months of the year.
But the National Association for Business Economics said Monday its group of 47 forecasters expects growth to advance at an annual pace of more than 3 percent in each of the last three quarters of 2014.
The professional group's president, Jack Kleinhenz, National Retail Federation chief...
The Treasury will try to maintain a cautious posture on Wednesday, but start to put the political squeeze on the shadow Treasury team by claiming its dire predictions of mass unemployment have been proved untrue.
The shadow chancellor, Ed Balls, in the US for talks with the Obama administration, has already prepared the ground for the change of economic gear by highlighting the continued squeeze on living standards.