According to the Canada economy forecast published by the International Monetary Fund (IMF) in October 2009, the Canadian economy will contract in 2009 but return to above 2% growth in 2010.
In particular, the IMF forecast predicts that the Canadian economy will shrink in 2009 at an average rate of 2.5%, following a slight growth of 0.4% in 2008 and expansion of 2.5% in 2007.
The Canadian economy is expected though to rebound in 2010 registering a real GDP growth rate of 2.1%, which will further accelerate to 3.6% in 2011. The expansion rate of the Canadian economy is predicted to decelerate to 2.5% by 2013.
Canada Economy Forecast October 2008
Sources: IMF, www.Property-Investing.org
IMF's Canada economy forecast anticipates that inflation in 2009 will practically drop to zero (0.1%) but rise to 1.3% in 2010. As the graph below indicates, Canada's inflation rate is predicted to gradually rise to 2% by 2012.
Canada Inflation Forecast October 2009
Sources: IMF, www.Property-Investing.org
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