Thursday, June 13, 2024
There is rising awareness of the stagnation of productivity and output per capita in Canada that follows years of under-investment in productive capacity and innovation. Our challenges emerge in plain sight as global conditions limit our prospects for near-term economic growth. Canada needs a course correction: an alignment of business strategies and public policy with a medium-term focus and a sense of urgency. Businesses have to invest to be on the winning side of structural change. Governments have the task of creating the policy frameworks for investment that will generate competitive returns and grow our productivity. In the short term, more saving and investment will entail less consumption as a share of our economy.
In this presentation of the 2024 mid-year Economic Outlook, Senior Advisors David Dodge and Serge Dupont reviewed short-term prospects and risks for output, inflation, and interest rates for the Canadian and U.S. economies. They analyzed global and domestic trends that are shaping our medium-term outlook and propose directions for policy. Moderated by Claire Kennedy, the presentation—and questions and answers—aimed to inform business planning in a complex, uncertain world.
Bennett Jones