<?xml version="1.0" encoding="UTF-8"?>
<data>
<terms url="https://www.bankofcanada.ca/terms/"></terms>
<groupDetail>
    <label>Chart 3: Exports and business investment would fall sharply after tariffs are imposed</label>
    <description><![CDATA[Percentage change compared with the January projection, quarterly data

Sources: Bank of Canada calculations, estimates and projections]]></description>
    <link>https://www.bankofcanada.ca/?p=244345</link>
</groupDetail>
<seriesDetail>
<series id="SPEECH_MACK20250221_C3_S1">
<label>Exports</label>
<description></description>
<dimension key="d" name="Date"/>
</series>
<series id="SPEECH_MACK20250221_C3_S2">
<label>Business investment</label>
<description></description>
<dimension key="d" name="Date"/>
</series>
</seriesDetail>
<observations>
<o d="2025-01-01"><v s="SPEECH_MACK20250221_C3_S2">0.000</v><v s="SPEECH_MACK20250221_C3_S1">0.000</v></o>
<o d="2025-04-01"><v s="SPEECH_MACK20250221_C3_S2">-3.310</v><v s="SPEECH_MACK20250221_C3_S1">-3.448</v></o>
<o d="2025-07-01"><v s="SPEECH_MACK20250221_C3_S1">-5.819</v><v s="SPEECH_MACK20250221_C3_S2">-6.565</v></o>
<o d="2025-10-01"><v s="SPEECH_MACK20250221_C3_S1">-7.443</v><v s="SPEECH_MACK20250221_C3_S2">-9.239</v></o>
<o d="2026-01-01"><v s="SPEECH_MACK20250221_C3_S2">-11.694</v><v s="SPEECH_MACK20250221_C3_S1">-8.468</v></o>
<o d="2026-04-01"><v s="SPEECH_MACK20250221_C3_S2">-11.386</v><v s="SPEECH_MACK20250221_C3_S1">-8.942</v></o>
<o d="2026-07-01"><v s="SPEECH_MACK20250221_C3_S2">-10.946</v><v s="SPEECH_MACK20250221_C3_S1">-9.160</v></o>
<o d="2026-10-01"><v s="SPEECH_MACK20250221_C3_S1">-9.186</v><v s="SPEECH_MACK20250221_C3_S2">-10.794</v></o>
<o d="2027-01-01"><v s="SPEECH_MACK20250221_C3_S1">-9.250</v><v s="SPEECH_MACK20250221_C3_S2">-10.984</v></o>
<o d="2027-04-01"><v s="SPEECH_MACK20250221_C3_S1">-9.128</v><v s="SPEECH_MACK20250221_C3_S2">-11.063</v></o>
<o d="2027-07-01"><v s="SPEECH_MACK20250221_C3_S1">-8.983</v><v s="SPEECH_MACK20250221_C3_S2">-10.974</v></o>
<o d="2027-10-01"><v s="SPEECH_MACK20250221_C3_S1">-8.694</v><v s="SPEECH_MACK20250221_C3_S2">-10.776</v></o>
<o d="2028-01-01"><v s="SPEECH_MACK20250221_C3_S2">-10.521</v><v s="SPEECH_MACK20250221_C3_S1">-8.553</v></o>
<o d="2028-04-01"><v s="SPEECH_MACK20250221_C3_S2">-9.671</v><v s="SPEECH_MACK20250221_C3_S1">-8.566</v></o>
<o d="2028-07-01"><v s="SPEECH_MACK20250221_C3_S2">-8.749</v><v s="SPEECH_MACK20250221_C3_S1">-8.725</v></o>
<o d="2028-10-01"><v s="SPEECH_MACK20250221_C3_S2">-7.909</v><v s="SPEECH_MACK20250221_C3_S1">-8.961</v></o>
<o d="2029-01-01"><v s="SPEECH_MACK20250221_C3_S2">-7.174</v><v s="SPEECH_MACK20250221_C3_S1">-9.234</v></o>
<o d="2029-04-01"><v s="SPEECH_MACK20250221_C3_S2">-6.526</v><v s="SPEECH_MACK20250221_C3_S1">-9.421</v></o>
<o d="2029-07-01"><v s="SPEECH_MACK20250221_C3_S2">-5.940</v><v s="SPEECH_MACK20250221_C3_S1">-9.457</v></o>
<o d="2029-10-01"><v s="SPEECH_MACK20250221_C3_S2">-5.395</v><v s="SPEECH_MACK20250221_C3_S1">-9.183</v></o>
<o d="2030-01-01"><v s="SPEECH_MACK20250221_C3_S2">-4.869</v><v s="SPEECH_MACK20250221_C3_S1">-8.410</v></o>
</observations>
</data>