Over the past 30 years, health care spending in Canada has followed a pattern of peaks and troughs tied to overall economic activity and fluctuations in federal funding. Throughout this period, health spending varied significantly across provinces and territories. This has led to notable differences between actual expenditures and the notional health care costs derived from the macroeconomic fundamentals of population growth, aging, real income growth, and inflation.
Along with continued advances in computing power and the availability of a broader range of data than just that provided by official sources, nowcasting has become an increasingly popular area of analysis among economists. Also known as tracking or monitoring, nowcasting refers to forecasting an economic variable in the very near term by incorporating data of varying frequencies or timeliness, as well as data from official and unofficial sources.
Budget 2017 is expected in the next few weeks. It will be the second budget for the Liberal government. The stakes are high.Budget 2017 is expected in the next few weeks. It will be the second budget for the Liberal government. The stakes are high.
It is mid-February. The new fiscal year starts April 1. We wait for a signal from our federal Finance Minister on a budget date. The clock ticks.