Global Macro Service > Research Briefings > Canada

Economy stumbles, but is still poised for robust recovery

We remain bullish on the outlook for the Canadian economy over the next two years despite a surprising contraction in Q2. However, increased Delta caution and supply chain disruptions will temper growth for the remainder of 2021 and likely well into 2022. Canada’s high vaccination rates should prevent the reimposition of severe restrictions and allow the economy to grow 5.7% in 2021 and 4.5% next year.

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