{
  "title": "Canada: Staff Report for the 2002 Article IV Consultation",
  "publication": "IMF Staff Country Reports, March 12, 2002",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/30/canada-staff-report-for-the-2002-article-iv-consultation-15709",
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  "summary": "This 2002 Article IV Consultation highlights that the Canadian economy has slowed substantially since late 2000. The slowdown in large part has reflected the slowing in the United States economy, which has reduced growth in Canada’s exports and contributed to weakening private investment.",
  "sections": [
    {
      "heading": "Summary — main finding",
      "content": "- The Canadian economy has slowed substantially since late 2000.\n- The slowdown largely reflects the slowing in the United States economy, which:\n  - reduced growth in Canada’s exports, and\n  - contributed to weakening private investment.\n- Consumption growth has moderated because of:\n  - a slowing in real income growth,\n  - a softening in the employment situation, and\n  - an associated fall in consumer confidence.\n- The recent slowing in economic activity has led to a decline in resource utilization."
    },
    {
      "heading": "Economic drivers and transmission",
      "content": "- External demand:\n  - Slowing U.S. economy → lower Canadian export growth.\n- Domestic demand:\n  - Weaker private investment linked to lower external demand.\n  - Moderation in consumption tied to slower real income growth, weaker labor market conditions, and lower consumer confidence.\n- Output gap:\n  - Decline in resource utilization reported in recent quarters."
    },
    {
      "heading": "Subjects and keywords (as listed)",
      "content": "- Subjects: Banking; Budget planning and preparation; Disposable income; Fiscal policy; Fiscal stance; Inflation; National accounts; Prices; Public debt; Public financial management (PFM).\n- Keywords: authority; Budget planning and preparation; business confidence; Canada; core CPI; Core CPI inflation; CR; Disposable income; Fiscal stance; Global; governor of the Bank of Canada; Inflation; ISCR; labor market condition; North America; report update.\n\n---\n\n Content in this bundle\n\n- cr0250\n  - cr0250 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr0250 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: March 12, 2002",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451806885.002",
    "The Canadian economy has slowed substantially since late 2000.",
    "The slowdown largely reflects the slowing in the United States economy, which:",
    "Consumption growth has moderated because of:",
    "The recent slowing in economic activity has led to a decline in resource utilization.",
    "External demand:",
    "Domestic demand:",
    "Output gap:",
    "Subjects: Banking; Budget planning and preparation; Disposable income; Fiscal policy; Fiscal stance; Inflation; National accounts; Prices; Public debt; Public financial management (PFM).",
    "Keywords: authority; Budget planning and preparation; business confidence; Canada; core CPI; Core CPI inflation; CR; Disposable income; Fiscal stance; Global; governor of the Bank of Canada; Inflation; ISCR; labor market condition; North America; report update.",
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