BMI View: The key theme for Canada's economy over the coming years will remain 'rebalancing', asprivate consumption and high oil prices can no longer be relied upon to provide robust economic growth.High household debt levels will require a period of prolonged deleveraging. Tighter regulation and macroprudentialmeasures introduced in 2012 to engineer a soft landing of the housing market are likely torestrict households from taking on more debt and weigh on spending growth over the coming years. Weforecast average real private consumption growth of 2.2% between 2014 and 2018.
Headline Industry Forecasts (local currency)
2014 per capita food consumption growth = +1.14% year-on-year (y-o-y); forecast compound annualgrowth rate (CAGR) 2013 to 2018 = +1.37%;