Canada is heading towards its third — possibly fourth — year of sub-two per cent economic growth, according to an analyst with Farm Credit Canada (FCC).
That, combined with ongoing U.S. and Chinese tariffs, will have an impact on Canadian agriculture.
At FCC’s 2025 economic update webinar Sept. 18, FCC executive vice-president J.P. Gervais pegged overall economic growth in 2025 at 1.1 per cent — just shy of the Bank of Canada’s 1.3 per cent forecast.
FCC estimates one per cent growth in 2026, virtually in line with Bank of Canada estimates.
Both forecasts represent less growth than in 2023 and 2024, which saw economic growth of 1.5 and 1.6 per cent, respectively.
Gervais urged producers not to get too comfortable with agri-food’s almost universal lack of exposure, thanks to inclusion under the Canada-U.S.-Mexico trade agreement.
