Take the latest numbers from the Bank of Canada and The International Monetary Fund .
The Govenor of the Bank of Canada appearing before the House of Commons Committee April 12 said in a written statement that the Canadian Economy would grow by 2/1/2 percent in 2017 . The Internationation Monetary Fund in it’s April 2017 Outlook Publication says the Canadian Economy will grow by 1.9 per cent in 2017. That’s a big difference !
That why , like the weather forecast, tis all a bit of a guess, even in 2017 when we are constantly told just how great we are .
For Canadians , where we are told how great the economy is doing on a daily basis this IMF number comes as a bit of a jolt for many Government and Bank of Canada people , you would think. I wonder.
And Canada’s economy was no great shakes last year as it relates to growth according to the IMF. We grew by 1.4% —the US grew by 1.6% , Germany by 1.8% –and wait for it , —-that crisis country , silly Brexit consumed place, the UK , 1.8%.
And this year 2017–Canada is projected to grow by 1.9% as I said —but the US by 2.3%, EU by 2.3%—and wait for it again the UK by 2.0%.
This is why my rants over the last months about the state of our competititive position , our productivity , our ability to innovate , our growing debt , all gain some credibility with stats like this.