Investment plans in the energy sector, and the possibility that households will suddenly rein in spending to pay down debt, do still present downside risks that we will continue to monitor carefully. And of course, there may be a whole new set of risks to consider in July.
Impact of the Alberta wildfires Unfortunately, there is still one major economic factor to consider that was not foreseen at all – the Alberta wildfires. The fires were brutal. Almost 90,000 people were displaced and about 2,400 buildings, mostly homes, were destroyed. Canadians rallied to support their neighbours, as you’d expect.