Deloitte cuts its 2027 growth call as Canada’s economy flatlines in July
Deloitte states that its projection excludes the tariff scope expanded on September 15 and the US ban on certain Canadian goods effective Tuesday.
“It’s so uncertain when we think about all the factors the Canadian companies are facing, whether it’s the prospect of higher costs, the prospect of more friction with our largest trading partner or perhaps even higher interest rates,” Dawn Desjardins, chief economist at Deloitte Canada, told CBC News.
The outlook names business non-residential investment as the most prominent weak spot in the economy, a finding the Financial Post also reported.
Reuters quoted a note from Benjamin Reitzes, Canadian rates and macro strategist at BMO Capital Markets, saying the Canadian economy “continues to hang in there” despite trade headwinds.
BNN Bloomberg reported that Reitzes is tracking third-quarter growth of 1.5 to 2 percent, against the Bank of Canada’s forecast of 1.5 percent.
