Canada : 2003 Article IV Consultation-Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion

This 2003 Article IV Consultation highlights that Canada’s strong policy framework has brought impressive economic results, and the Canadian economy has proven exceptionally resilient in the face of the recent global downturn. Economic activity slowed relatively modestly in 2001, with only one quarter of output decline recorded, and growth recovered strongly thereafter, averaging 4 percent over the subsequent four quarters. Household consumption and residential investment have remained robust. Household and business demand was supported by sustained productivity growth, rapid growth of employment and labor incomes, and gains in real estate prices