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OECD maintains low growth view of Canada’s economy

Paris-based think tank says the world economy is trapped in a period of low growth.


TORONTO — The Organization for Economic Co-operation and Development is sticking by its prediction that Canada’s economy will grow by 1.2% this year, followed by a 2.1% rise next year.

The projections by the OECD are slightly more optimistic than the latest outlook from the Bank of Canada, which last month estimated the country’s gross domestic product would grow by 1.1% this year and 2% in 2017.

In its latest forecast, the Paris-based think tank says the world economy is trapped in a period of low growth, with expectations that the global economy will rise by 2.9% this year and 3.3 % in 2017.

The 2016 estimate for the US has risen to 1.5%, up from the OECD’s September estimate of 1.4%.

News from © Canadian Press Enterprises Inc. 2016

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