Canadian Economy Faces ‘Gradual and Bumpy Recovery’ Over Next 3 Years, KPMG Report Says

Canada’s economy “faces a gradual and bumpy recovery” over the next three years, according to a new economic outlook report that cites resilient consumers and adaptation to U.S. tariffs as contributing to projected growth of 1 to 2 percent. Accounting firm KPMG said in its Nov. 11 report that it forecasts GDP growth of 1 [...]

Canadian Economy Faces ‘Gradual and Bumpy Recovery’ Over Next 3 Years, KPMG Report Says

TL;DR

  • Canada's economy is expected to experience a gradual and bumpy recovery over the next three years.
  • Projected GDP growth is 1 percent this year, 1.8 percent in 2027, and 2 percent in 2028.
  • Key factors supporting growth include resilient consumer spending, rising investments, adaptation to U.S. tariffs, and population growth.
  • Risks to growth are considered roughly balanced, though output may remain below its pre-2025 trend.
  • Businesses are demonstrating adaptability to geopolitical turmoil, influencing the economic outlook.