Canadian economy ‘expected to strengthen’ after technical recession: OECD
The OECD has projected that Canada's economy will recover from its recent technical recession, with GDP growth expected to rebound later this year and continue into 2027. By the end of 2026, GDP growth is anticipated to reach 1.2 percent, increasing to 1.7 percent in 2027. Factors such as household consumption, government spending, and Canada's status as a net energy exporter are expected to support this growth.
- ▪Canada's GDP growth is projected to rebound after a technical recession.
- ▪The OECD forecasts GDP growth of 1.2 percent by the end of 2026 and 1.7 percent in 2027.
- ▪Household consumption and government spending will underpin economic growth.
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After Canada’s economy slipped into a technical recession last week, a new outlook by the Organisation for Economic Co-operation and Development, or OECD, said on Wednesday said that GDP growth is set to rebound later in the year and continue growing into 2027. “GDP growth is expected to strengthen over 2026 and 2027,” the OECD said in a note about Canada’s economy on Wednesday.Canada’s GDP growth is expected to reach 1.2 per cent by the end of 2026 and strengthen further in 2027, reaching 1.7 per cent, the OECD outlook said, as the Canadian economy recovers from the shock of U.S.
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