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Macroeconomic Outlook

Canada’s economic engine is gearing down

September 13, 2023

Headwinds from higher interest rates and a slowing global economy are building. Canadian GDP edged 0.2% lower in Q2 of...

Canada’s economy is beating expectations, but for how long?

June 8, 2023

In both Canada and the U.S., GDP continued to grow in Q1—and consumers kept spending. But the surge in interest rates will continue to take a toll.

Canadian economy unlikely to dodge a downturn despite early-2023 resilience

March 15, 2023

Economic growth has been more resilient than feared in the wake of aggressive interest rate increases last year.

Rate-hiking cycle ending as recession edges closer

December 14, 2022

The Canadian economy continues to inch closer to a recession in 2023.

Brace for a 'bumpy' landing, Canada

September 12, 2022

We expect the coming downturn in Canada will be ‘moderate’ by historical standards. - RBC Economics

Growth opportunities narrow amid searing inflation and a scarcity of workers

June 7, 2022

With most restrictions lifted, the hard hit travel industry is poised for better than average growth.

Russian invasion and surging inflation take over as key global growth risks

March 10, 2022

The invasion of Ukraine is rocking financial markets, pushing commodity prices higher, and threatening further disruptions to already stretched global supply chains.

Inflation top concern for 2022, Covid variant casts shadow

December 2, 2021

We are optimistic about the outlook but risks remain elevated given the uncertain path of the virus. Base effects associated with reopening, rising commodity prices, policy stimulus and higher input costs have boosted inflation rates. - RBC Economics.

The long and winding road to recovery

September 13, 2021

The spread of the Delta variant and slow vaccination rates in many emerging economies created a detour in the road to recovery for the global economy.

Economic recovery shifts into higher gear

June 9, 2021

The outlook for the global economy improved over the past three months because of increased policy support and rising vaccination rates.

Vaccines Put Global Economy on Recovery Track

March 10, 2021

The outlook for the global economy improved significantly as vaccination campaigns ramped up. RBC Economics expects real GDP to increase by 5½% in 2021.

Vaccine Clears Path for Recovery but Not out of the Woods Yet

December 15, 2020

2021 promises to be a better year with the discovery of a vaccine against COVID-19 set to restore both our health and the economy.