Deloitte Lowers Canada’s 2027 Growth Forecast, Citing Renewed US Trade Tensions
Despite stronger-than-expected economic growth this year, Canada’s trade dispute with the United States and elevated energy prices are expected to significantly hamper growth in the year ahead, according to a recent report from Deloitte Canada. The professional services firm raised its fall 2026 forecast for Canadian economic growth from 0.7 percent to 0.9 percent following …
Deloitte Canada has revised its economic growth forecasts, raising the 2026 projection slightly but significantly lowering the 2027 outlook. The primary drivers for this downward revision are the escalating trade dispute with the United States and elevated energy prices. The impact of U.S. tariffs and Canadian counter-tariffs is expected to become more pronounced, leading to a sharp slowdown in growth.
- Deloitte Canada raised its 2026 economic growth forecast from 0.7% to 0.9%.
- The 2027 growth projection was lowered from 2% to 1.6%.
- Trade dispute with the United States and elevated energy prices are key factors for reduced growth.
- The effects of U.S. tariffs and Canadian counter-tariffs are expected to impact growth significantly in 2027.
- Growth is forecast to slow sharply in late 2026 and early 2027.
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