{
  "title": "Canada: 2017 Article IV Consultation-Press Release and Staff Report",
  "publication": "IMF Staff Country Reports, July 13, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/07/13/canada-2017-article-iv-consultation-press-release-and-staff-report-45074",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2017/07/13/canada-2017-article-iv-consultation-press-release-and-staff-report-45074",
  "overlayPath": "/en/publications/cr/issues/2017/07/13/canada-2017-article-iv-consultation-press-release-and-staff-report-45074/index.md",
  "summary": "This 2017 Article IV Consultation highlights that Canadian economy has regained momentum, supported by the authorities’ pro-active growth strategy, but complex adjustments are still at play.",
  "publishDate": "2017-07-13",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Executive summary and outlook",
      "content": "- The Canadian economy has regained momentum, supported by the authorities’ pro-active growth strategy, but complex adjustments are still at play.\n- Externally, the global outlook has improved, but uncertainty surrounding global trade and risks of economic fragmentation may negatively affect the durability of the Canadian recovery.\n- A strong United States economy, expansionary fiscal and monetary policy, and stable oil prices are expected to lift real GDP growth to 2.5 percent in 2017 and 1.9 percent in 2018.\n- Residential construction is expected to expand at a more moderate pace, reflecting tighter macroprudential measures."
    },
    {
      "heading": "Domestic demand and sectoral developments",
      "content": "- Personal consumption is robust.\n- Business investment remains weak.\n- Nonenergy exports have underperformed.\n- Housing market imbalances have risen.\n- Residential construction: expected to expand at a more moderate pace due to tighter macroprudential measures."
    },
    {
      "heading": "External environment and risks",
      "content": "- Improved global outlook supports Canada’s recovery.\n- Key risks: uncertainty surrounding global trade and risks of economic fragmentation, which may negatively affect the durability of the recovery.\n- External support factors: strong United States economy and stable oil prices."
    },
    {
      "heading": "Policy stance and implications",
      "content": "- Authorities’ pro-active growth strategy has supported the recovery.\n- Expansionary fiscal and monetary policy are contributing to the projected growth outcomes.\n- Macroprudential tightening is intended to moderate residential construction and address housing market imbalances."
    },
    {
      "heading": "Key statistics and projections",
      "content": "- Real GDP growth: 2.5 percent in 2017.\n- Real GDP growth: 1.9 percent in 2018.\n\nInternational Monetary Fund. Canada: 2017 Article IV Consultation-Press Release and Staff Report, July 13, 2017.\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2017/07/13/canada-2017-article-iv-consultation-press-release-and-staff-report-45074"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2017/07/13/canada-2017-article-iv-consultation-press-release-and-staff-report-45074/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2017/07/13/canada-2017-article-iv-consultation-press-release-and-staff-report-45074/index.json)",
    "[Bundle manifest](/en/publications/cr/issues/2017/07/13/canada-2017-article-iv-consultation-press-release-and-staff-report-45074/bundle-manifest.json)",
    "Published: July 13, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484309605.002",
    "The Canadian economy has regained momentum, supported by the authorities’ pro-active growth strategy, but complex adjustments are still at play.",
    "Externally, the global outlook has improved, but uncertainty surrounding global trade and risks of economic fragmentation may negatively affect the durability of the Canadian recovery.",
    "A strong United States economy, expansionary fiscal and monetary policy, and stable oil prices are expected to lift real GDP growth to 2.5 percent in 2017 and 1.9 percent in 2018.",
    "Residential construction is expected to expand at a more moderate pace, reflecting tighter macroprudential measures.",
    "Personal consumption is robust.",
    "Business investment remains weak.",
    "Nonenergy exports have underperformed.",
    "Housing market imbalances have risen.",
    "Residential construction: expected to expand at a more moderate pace due to tighter macroprudential measures.",
    "Improved global outlook supports Canada’s recovery.",
    "Key risks: uncertainty surrounding global trade and risks of economic fragmentation, which may negatively affect the durability of the recovery.",
    "External support factors: strong United States economy and stable oil prices.",
    "Authorities’ pro-active growth strategy has supported the recovery.",
    "Expansionary fiscal and monetary policy are contributing to the projected growth outcomes.",
    "Macroprudential tightening is intended to moderate residential construction and address housing market imbalances.",
    "Real GDP growth: 2.5 percent in 2017.",
    "Real GDP growth: 1.9 percent in 2018.",
    "**Country Report**"
  ],
  "related": [
    {
      "title": "Country Report",
      "role": "report",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/cr/2017/cr17210.pdf",
      "summary": {
        "path": "/-/media/files/publications/cr/2017/cr17210.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/cr/2017/cr17210.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/cr/issues/2017/07/13/canada-2017-article-iv-consultation-press-release-and-staff-report-45074/index.md",
    "json": "/en/publications/cr/issues/2017/07/13/canada-2017-article-iv-consultation-press-release-and-staff-report-45074/index.json",
    "bundleManifest": "/en/publications/cr/issues/2017/07/13/canada-2017-article-iv-consultation-press-release-and-staff-report-45074/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-23T12:24:23.501Z"
}