OECD maintains low-growth view of Canada’s economy this year and next

TORONTO — The Organization for Economic Co-operation and Development is sticking by its prediction that Canada’s economy will grow by 1.2 per cent this year, followed by a 2.1 per cent rise next year.

The projections by the OECD are slightly more optimistic than the latest outlook from the Bank of Canada, which last month estimated the country’s gross domestic product would grow by 1.1 per cent this year and two per cent in 2017.

In its latest forecast, the Paris-based think tank says the world economy is trapped in a period of low growth, with expectations that the global economy will rise by 2.9 per cent this year and 3.3 per cent in 2017.

The 2016 estimate for the United States has risen to 1.5 per cent, up from the OECD’s September estimate of 1.4 per cent.

time served

Nanaimo man caught with over 30g of illicit drugs avoids additional jail time

5h ago

big return

Senior women's box lacrosse returns to Nanaimo after 10+ year absence

5h ago

environmental impacts

Accidental pump activation causes minor oil slick in Nanaimo marina

7h ago

The Canadian Press