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The economy has proven more resilient than expected amid the U.S. trade war, says the latest quarterly outlook from Deloitte, but President Donald Trump’s new 50 per cent tariffs on many Canadian goods has the firm forecasting slower growth for 2027. (The Logic)
Talking point: After strong second quarter growth, and after Statistics Canada struck the first quarter’s technical recession from its record, Deloitte improved its 2026 forecast to show 0.9 per cent growth. An expected decline in exports, however, had Deloitte revise its 2027 GDP forecast downward to 1.6 per cent. “We remain cautiously optimistic that progress toward establishing new trade and supply chain relationships, growing participation by companies in government-initiated projects, and a renewed commitment to addressing impediments to investment will advance, allowing Canada’s economy to weather this latest blow,” says the report.
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