Canada’s competitive situation will be under pressure in 2016, thanks to both short-term issues and long-term trends, according to our new report Crystal Ball Report: Canada in a Volatile World, which was released today.
This report sums up the opinions of business leaders from across the country, as well as the predictions of leading economists, to produce a sense of where we are headed and provide an economic outlook for the coming year and beyond.
It starts with Canadian consumers, who are among the most highly indebted in the world. With a housing market that is overvalued in many communities, the consumer spending that powered our economy over the past decade is no longer an option. Meanwhile, our traditional strength in natural resources is significantly diminished.
In order for our economy to continue to grow and to improve our standard of living, Canada must succeed in exporting, in creating new businesses and in commercializing the technologies of tomorrow. Our number one priority has to be the improvement of Canadian productivity and innovation. No stimulus can deliver sustainable growth if Canada’s productivity challenges are not addressed.
Learn more by reading our Crystal Ball Report.
Join us on February 4, as Hendrik Brakel, our Senior Director of Economic, Tax and Finance Policy, will be answering questions about the report and the Canadian economy. You can submit your questions ahead of time or join the conversation from 2-3 p.m. EST by tweeting at @CdnChamberofCom and using the hashtag #AskCCC.