Monetary and financial issues

Economic Survey of Canada 2016

 

 

 

Overview of the Economic Survey of Canada

The Canadian economy is adjusting to the fall in commodity prices, energy in particular. Business investment has fallen sharply in the energy sector, and employment has declined in oil-producing provinces. These factors, together with the loss of income from the fall in the terms of trade, temporarily depressed economic growth in 2015. Output has fallen sharply in industries most affected by commodity prices but has risen in the rest of the economy, especially in export-related industries, allowing new job creation to re-employ displaced workers. Exchange rate depreciation, Canada’s flexible labour markets and monetary and fiscal policy are supporting the shift towards non-resource production.
 
 
OECD Economic Surveys: Canada 2016  

For further information please contact the Canada Desk at the OECD Economics Department.

The Secretariat’s draft report was prepared for the Committee by David Carey and Corinne Luu, who benefitted from technical background papers prepared by John Lester and Mark Ronayne, under the supervision of Peter Jarrett. Research assistance was provided by Isabelle Luong and secretarial assistance by Dacil Kurzweg.

 

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