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Macroeconomic outlook The Canadian economy is now back on the rails after several quarters of stagnation. Robust employment growth over the last quarter, together with signs of a pick-up in the US economy, point to accelerating GDP growth over the second half of this year and into 1997 (Chart 1). While fiscal policy will continue to act as a major drag on domestic spending, there should be sufficient momentum from exports, and stimulus from monetary policy, to support 2.0% |
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