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  • Post Time Posted September 19, 2018
Canada’s gross domestic product will see a one-time lift from the legalization of cannabis in October, and as a result Toronto-Dominion Bank has raised its growth forecast to 2.2 percent for 2018 and 2019, up from its 2 percent estimate in June. 

TD says that the bump could equate to as much as an additional $8 billion to the country’s economy, followed by a smaller lift in the first quarter of 2019, and would eventually taper off by the end of the year.
 
Because of the immediate bump, TD also raised its 2018 fourth quarter growth estimate to 2.9 percent, also from 2 percent previously.

The report however, cautions that the increase in real GDP is more of an illusion, as some of the cannabis-related trade was already prevalent in the economy, but was not recorded because it occurred in the black market or wasn't formally registered in most measures of GDP output.

Source: https://www.thestar.com/news/cannabis/2018/09/19/marijuana-to-boost-canadas-2019-gdp-at-least-on-paper-td-says.html


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