Economic Forecast for 2013

This week was the annual CAGT kick off for the year.  As usual it was a panel of leading economists from the large Canadian banks providing their view on the economy for the year.

There was varied opinion across the banks from bullish to bearish regarding growth this year….. with BMO being the most optimistic, CIBC the least, with ScotiaBank somewhere in between.

For me I do enjoy hearing Benjamin Tal speak.  Although on the bearish side last night (potential for 15% decrease in house prices in Toronto), it feels he delivers a more unvarnished view ……. we still need to watch the debt load of the Canadian consumer, they are struggling to recover from the spending and borrowing the last couple of years…. also watch for unpredictable, potential external factors such as instability from austerity too.

All said an interesting discussion.

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