IMF: Canadian economy will still grow in 2018, just a little less

WASHINGTON -- The International Monetary Fund projects moderate economic growth for Canada this year and next.

Its new World Economic Outlook foresees growth in Canada of 2.1 per cent this year and two per cent next year.

That represents a slight downgrade from January's outlook of 2.3 per cent forecast for this year.

It's noticeably less than the strong three per cent growth Canada experienced in 2017.

And it's also less than the U.S. projections: the United States is projected to grow almost three per cent this year, which is a significant improvement from recent IMF outlooks.

Brett House, the deputy chief economist at Scotiabank, says this prediction is similar to his other projections. He says the U.S. is benefiting from tax cuts and spending hikes, while trade uncertainty is affecting Canada's outlook.

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