When the final numbers are tallied for 2017, Canada’s economy is expected to lead the G-7 group of industrialized economies1 and come in second only to Spain among all developed nations. Considering that the Canadian economy was recently a laggard, the speed and magnitude of the economic rebound are remarkable.
Growth is widespread
What’s most impressive about the Canadian economy is that growth is coming from a diversified group of sectors.2 A rebound in oil and gas output is providing a boost, but so are upticks in manufacturing, financial, and wholesale and retail trade. According to one estimate, technology is one of the fastest growing sectors of the Canadian economy.3
And despite the lack of clarity about the direction of U.S. economic policies, the Bank of Canada’s Business Outlook Survey4 finds that business sentiment is strong, particularly when it comes to investment and hiring decisions. These are both key indicators for future growth.
Further supporting an optimistic outlook is the unemployment rate, which dropped to its lowest level in almost a decade in late summer 2017,5 and a strengthening Canadian dollar.6
In light of these bright prospects, this is an ideal time for us to touch base on your Canadian exposure. There may be new opportunities in Canadian stocks, equity funds, or other investments to explore that align with your objectives and risk tolerance — so you can take advantage of the prospects for the growth in our markets.
1 International Monetary Fund, World Economic Outlook, July 2017.
2 Bank of Canada, Business Outlook Survey, Summer 2017.
3 Brookfield Institute, The State of Canada’s Tech Sector, 2016.
4 Bank of Canada, Business Outlook Survey, Summer 2017.
6 Forex Market News and Analysis, Daily FX, July 21, 2017.
Larry Kleinmintz, R.H.U., T.O.T., M.D.R.T.
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