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The Canadian economy is judged to have been operating at, or just above, its production capacity at the end of 2006, following weaker-than-expected growth in the second half of last year. This slowdown stemmed from reduced demand for Canadian exports - related to weakness in the U.S. automotive and housing sectors - and from the need for Canadian businesses to adjust inventories.

Conference Proceedings held 12 and 13 November 2009 (papers in unedited, electronic format only)

Proceedings of a conference held by the Bank of Canada, November 1999 (proceedings volume, available in electronic format only)

The Canadian economy is expected to expand by 2.1 per cent this year and in 2018.

While a second wave of COVID-19 is hurting Canadians now, the economy should rebound strongly later in the year. The Bank is forecasting growth of around 4 percent this year and close to 5 percent in 2022.

Real GDP in Canada is expected to grow by 1.9 per cent in 2015 and 2.5 per cent in 2016 and by 2.0 per cent in 2017.

Economic growth in Canada is projected to average just over 1 per cent in 2015 and about 2 1/2 per cent in 2016 and 2017.

The Canadian economy is now clearly in excess demand, and inflation is high and broadening. The Bank is projecting inflation to decline to about 3% by the end of 2023, and to return to the 2% target by the end of 2024.

Canada’s economy is projected to grow by 1.7 per cent in 2016 and return to potential next year as complex adjustments continue.

The Bank expects Canada’s economy to grow by almost 4 percent on average in 2021 and 2022, following a decline of about 5 ½ percent in 2020.