By Chris Elliott, Senior Economist (Mar. 24/15) Restaurants Canada has lowered its 2015 forecast for commercial foodservice sales growth from 4.0% to 3.6%, due to Canada’s deteriorating economic outlook. In recent weeks, economists have slashed their outlook for 2015 with Canada’s real GDP forecast to grow 2.0%. Lower gasoline prices will hurt the oil-intensive economies of Alberta, Saskatchewan and Newfoundland and Labrador. On the bright side, a weaker Canadian dollar will support healthy economic gains in Ontario and British Columbia.
Based on revised economic forecasts, Restaurants Canada has downgraded its outlook for foodservice sales growth in Alberta, Saskatchewan, and Newfoundland and Labrador.
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