The Canadian economic setting: A slow but steady recovery

The Canadian economic setting: A slow but steady recovery

By Dale Orr, PwC Economics and Statistics Practice, Toronto

2012 will mark the third year of recovery for the Canadian economy. On the plus side, employment and economic output have now surpassed their prerecession levels and forecasts call for steady, but not spectacular, growth over the next few years. Canada's recovery, especially in employment, has been more impressive than most other developed countries, including the US. On the negative side, Canadians are having to adjust to a weaker pace of economic growth than experienced pre-recession and our international competitiveness is being challenged by weak productivity, a strong Canadian currency and weak growth in our major trading partners.