发表于2024-11-07
Oecd Economic Surveys pdf epub mobi txt 電子書 下載 2024
Canada s recent economic performance has been favour-
able, underpinned by the sound macroeconomic and
structural policies pursued over the 1990s. With improved
fundamentals, including a fiscal surplus, activity has
rebounded vigorously from the external shocks in 1997-1998.
Economic expansion since then has been strong and b~oadly
based, benefiting both from a favourable external environ-
ment - buoyant US demand, rising world commodity prices -
and improved confidence at home associated with substan-
tial job creation and rising incomes, with real GDP growth
averaging over 5 per cent (at an annual rate) since late 1998,
slack in product and labour markets has been rapidly taken
up. The unemployment rate has fallen to levels last seen in
the mid-1970s, and the economy may now be operating at, or
slightly above, full capacity, as conventionally measured.
Nonetheless, while the sharp rise in energy prices has
pushed up "headline" inflation, "core" inflation - excluding
energy and other volatile items - has stayed well within the
bottom half of the official I to 3 per cent target band. At the
same time, with the improvement in Canada s terms of trade
coming from higher commodity prices, the current account
has shifted rapidly towards surplus.
In the period ahead, economic growth is projected to
moderate, averaging 3 per cent in 2001 following about
4V2 per cent this year, as US demand becomes less support-
ive and tighter monetary conditions restrain the interest-
sensitive components of household and business spending.
On the other hand, renewed fiscal stimulus should bolster
domestic demand, although households may prefer to take
advantage of announced tax cuts to strengthen their balance
sheets. Such a "soft landing" scenario would avoid the
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Oecd Economic Surveys pdf epub mobi txt 電子書 下載 2024