Canada’s economy could grow by 6.1% in 2021 – OECD
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The Organization for Economic Co-operation and Development OECD has upgraded its outlook for Canadian economic growth for this year.
The Paris-based think tank says it now expects the Canadian economy to grow by 6.1 percent this year. The prediction is up from an estimate for growth of 4.7 percent that the OECD made in March.
It says the rebound will be thanks to reduced COVID-19 restrictions in the second half of the year and external demand.
The OECD says growth in Canada for 2022 is forecasted at 3.8 percent compared with a March estimate of four percent.
The improved outlook for Canada came as the OECD forecast global output would rise 5.8 percent this year, up from its forecast of 4.8 percent in December.