## Canada: Staff Report for the 2002 Article IV Consultation

_IMF Staff Country Reports, March 12, 2002_

## Source details

**Canonical URL:** [Canada: Staff Report for the 2002 Article IV Consultation](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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## Bibliographic details
- Published: March 12, 2002
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451806885.002

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### Summary — main finding
- The Canadian economy has slowed substantially since late 2000.
- The slowdown largely reflects the slowing in the United States economy, which:
  - reduced growth in Canada’s exports, and
  - contributed to weakening private investment.
- Consumption growth has moderated because of:
  - a slowing in real income growth,
  - a softening in the employment situation, and
  - an associated fall in consumer confidence.
- The recent slowing in economic activity has led to a decline in resource utilization.

### Economic drivers and transmission
- External demand:
  - Slowing U.S. economy → lower Canadian export growth.
- Domestic demand:
  - Weaker private investment linked to lower external demand.
  - Moderation in consumption tied to slower real income growth, weaker labor market conditions, and lower consumer confidence.
- Output gap:
  - Decline in resource utilization reported in recent quarters.

### Subjects and keywords (as listed)
- 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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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/30/canada-staff-report-for-the-2002-article-iv-consultation-15709_