Financial advisers are predicting no growth in the Canadian economy in 2013, according to a Sun Life Financial report released this morning.
The report found that the majority advisers feel that there will be zero growth or an economic contraction for the remainder of the year in Canada.
Sun Life Global Investments chief investment officer Sadiq S. Adatia said the outlook for Canada is not completely negative.
“The Canadian economy has weathered the financial downturn fairly well,” he said. “Though no growth is expected over the next six months, we believe the economy will remain stable during this period.”
The advisers surveyed felt “bullish” about capital markets around the world. Fifty-four per cent of respondents feel positive about the markets in general, in particular U.S. equities.
“The U.S. equities market has seen record highs in the first half of 2013,” said Adatia. “This market has consistently performed well and this trend is predicted to continue.”
