<?xml version="1.0" encoding="UTF-8"?>
<data>
<terms url="https://www.bankofcanada.ca/terms/"></terms>
<groupDetail>
    <label>Chart 5: Tariffs and trade-related impact weigh on potential output growth</label>
    <description><![CDATA[Contributions to average 2025–27 US potential output growth, percentage points, annual data

Source: Bank of Canada calculations]]></description>
    <link>https://www.bankofcanada.ca/?p=246055</link>
</groupDetail>
<seriesDetail>
<series id="SAN_BOUL20250514_C5_S1">
<label>Potential output growth</label>
<description></description>
<dimension key="k" name="Category"/>
</series>
<series id="SAN_BOUL20250514_C5_S2">
<label>Immigration policy</label>
<description></description>
<dimension key="k" name="Category"/>
</series>
<series id="SAN_BOUL20250514_C5_S3">
<label>Artificial intelligence (AI)</label>
<description></description>
<dimension key="k" name="Category"/>
</series>
<series id="SAN_BOUL20250514_C5_S4">
<label>GDP and non-AI-related investment</label>
<description></description>
<dimension key="k" name="Category"/>
</series>
<series id="SAN_BOUL20250514_C5_S5">
<label>Trade-related impact</label>
<description></description>
<dimension key="k" name="Category"/>
</series>
<series id="SAN_BOUL20250514_C5_S6">
<label>Column base for formatting purposes</label>
<description></description>
<dimension key="k" name="Category"/>
</series>
</seriesDetail>
<observations>
<o k="Potential output growth, April 2024"><v s="SAN_BOUL20250514_C5_S1">2.1129</v></o>
<o k="Trend labour input"><v s="SAN_BOUL20250514_C5_S2">-0.3401</v><v s="SAN_BOUL20250514_C5_S6">1.7727</v></o>
<o k="Capital deepening"><v s="SAN_BOUL20250514_C5_S2">0.1292</v><v s="SAN_BOUL20250514_C5_S3">0.0559</v><v s="SAN_BOUL20250514_C5_S4">0.1836</v><v s="SAN_BOUL20250514_C5_S6">1.7727</v></o>
<o k="Trend total factor productivity"><v s="SAN_BOUL20250514_C5_S3">0.0948</v><v s="SAN_BOUL20250514_C5_S4">0.0612</v><v s="SAN_BOUL20250514_C5_S6">2.1416</v></o>
<o k="Trade-related impact (Scenario 1)"><v s="SAN_BOUL20250514_C5_S5">-0.0206</v><v s="SAN_BOUL20250514_C5_S6">2.2771</v></o>
<o k="Potential output growth (Scenario 1)"><v s="SAN_BOUL20250514_C5_S1">2.2771</v></o>
<o k="Broad-based tariffs (Scenario 2)"><v s="SAN_BOUL20250514_C5_S5">-0.2991</v><v s="SAN_BOUL20250514_C5_S6">1.9779</v></o>
<o k="Potential output growth (Scenario 2)"><v s="SAN_BOUL20250514_C5_S1">1.9779</v></o>
</observations>
</data>