The Organization for Economic Co-operation and Development (OECD) says Canada could benefit from a rapid economic recovery in the United States this year.
The new OECD forecast shows that the global economy is recovering from the COVID-19 epidemic faster than expected, thanks in part to the success of vaccines and US stimulus efforts, but improvements are inconsistent and unemployment remains a major concern.
The OECD now expects global production to exceed pre-epidemic levels by the middle of this year, and has raised expectations for global GDP growth for this year and year. Next.
But as China and the United States grow faster and other parts of the world are expected to continue fighting until the end of 2022, the organization has warned of current differences.
The Canadian economy is expected to grow 4.7% this year, while the U.S. economy is expected to grow 6.5%, the report said.
The organization says strong tax support in the United States should spread to other economies, particularly Canada and Mexico.
– With the Associated Press