Canada’s economy will grow by just 1.6 per cent this year according to the latest assessment from the Conference Board of Canada. That is revised down from the 1.9 per cent growth it predicted in March. Matthew Street, associate director, said that calls for a recession may have been overstated: “We expect the numbers to show economic growth tracking close to zero in the second quarter, as the economy flirts with recession. But even if Canada slips into mild recession, we expect it to be small and short-lived, with the economy picking up through the rest of the year.” He said the Board expects the jobs market to strengthen but business investment will be weak. Household spending will also be reduced as consumers exercise caution.
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