## Canada: Staff Report for the 2007 Article IV Consultation

_IMF Staff Country Reports, February 13, 2007_

## Source details

**Canonical URL:** [Canada: Staff Report for the 2007 Article IV Consultation](https://www.imf.org/en/publications/cr/issues/2016/12/31/canada-staff-report-for-the-2007-article-iv-consultation-20413)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/canada-staff-report-for-the-2007-article-iv-consultation-20413/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/canada-staff-report-for-the-2007-article-iv-consultation-20413/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/canada-staff-report-for-the-2007-article-iv-consultation-20413/bundle-manifest.json)

## Bibliographic details
- Published: February 13, 2007
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451807028.002

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### Summary
- After surging in the first quarter of 2006, real GDP growth in Canada slowed subsequently, in part reflecting a cooling in the United States.
- Domestic demand remained the main driver of the economy.
- Private consumption expanded a robust 3¾ percent.
- Business investment grew 8 percent.
- Financial sector performance remained strong in 2006, largely reflecting continuing benign global market conditions.
- Long-term interest rates remained low despite monetary tightening.
- Spreads on private instruments remained low, reflecting default rates that continue to be low.

### Economic activity
- Real GDP: surged in Q1 2006, then slowed subsequently.
- External influence: slowdown partly attributed to a cooling in the United States.
- Main domestic drivers: private consumption and business investment.

### Domestic demand
- Private consumption: expanded 3¾ percent.
- Business investment: grew 8 percent.
- Domestic demand characterized as the main driver of economic performance in 2006.

### Financial sector and interest rates
- Financial sector performance: remained strong in 2006.
- Global conditions: strength largely reflected continuing benign global market conditions.
- Interest rates: long-term interest rates remained low despite monetary tightening.
- Credit conditions: spreads on private instruments remained low, reflecting low default rates.

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## Content in this bundle

- **_cr0751 — Executive Summary and Selected Findings**
  - [_cr0751 — Executive Summary and Selected Findings (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2007/_cr0751.pdf.md){rel="alternate" type="text/markdown"}
  - [_cr0751 — Executive Summary and Selected Findings (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2007/_cr0751.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/canada-staff-report-for-the-2007-article-iv-consultation-20413_