Gross Domestic Product and Bank of Canada

forecasts: The Bank of Canada, for example, has repeatedly revised its forecasts lower – most recently in October, when it cut its forecast of gross domestic product to 2 per cent in 2016 and 2.5 per cent in 2017, down from 2.3 and 2.6 per cent, respectively, according to Globe and Mail. The most significant longer-term problem is the slowing growth rate of the working-age population as the baby boom generation retires. Growth has continually disappointed and forecasters have regularly adjusted their forecasts downward, the report pointed out. In Japan, the working-age population is already shrinking. There is likely less scope for these trends to continue, according to the report. The report pointed out that later retirement and increased participation by women have in the past helped offset demographic trends. (www.immigrantscanada.com). As reported in the news.