Economy to remain subdued, while optimism for exports grows
Posted Feb 21, 2014 1:25 pm.
This article is more than 5 years old.
Despite an optimistic outlook for exports, economic growth in Canada is expected to remain subdued.
The deputy chief economist at the Conference Board of Canada tells 660News consumers are tapped out and the various levels of government are reining in their spending to tackle deficit and debt problems.
Pedro Antunes says Canada’s economy is only expected to grow by just over 2% in 2014.
“It’s going to be more moderate because of that, I would say, ‘spent up’ demand from consumers,” said Antunes, who added even economic activity in resource-rich Alberta is going to moderate a little, with a number of big building projects wrapping up.
“It’s lots of value added, lots of wealth created, but not as job intensive,” explained Antunues.
Antunues believes Canada’s economy continues to be one of the strongest in the world and is well positioned to benefit if activity south of the border does indeed take off.
