OECD LOWERS GROWTH OUTLOOK FOR CANADA

Mar 18, 2015

By Andy Johnson

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The Paris based Organization for Economic Co-operation and Development has reduced its 2015 and 2016 economic growth forecasts for Canada, citing the drag caused by lower prices for oil and other commodities.  The organization is now estimating Canada’s economy will grow by to 2.2 per cent this year, almost half a percent lower than previously thought.  Next year’s forecast has been trimmed to 2.1 per cent – down .3 per cent since the November forecast.  The OECD is keeping its forecast for the United States growth unchanged at 3.1 per cent in 2015 and 3.0 per cent in 2016.

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