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OTTAWA — It may not be smooth sailing after all for the Canadian economy.

Many positive outlooks for growth in 2014 have been buoyed by a stronger-than-expected performance in the third-quarter of last year — along with a pickup in the global economy overall — but some analysts are sounding a more pessimistic tone.

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“The consensus view that economic growth will accelerate this year is misplaced,” say economists at Capital Economics.

“While exports and business investment should improve modestly, we anticipate this will be more than offset by weaker housing construction, triggered by a pullback in the overbuilt condo market, and more cautious household consumption growth,” the Toronto-based independent global research group said in a report Friday.

That scenario goes against the grain of many forecasters who have penciled in growth of up to 2.6% on an annualized basis in the final quarter of 2013, following an impressive 2.7% showing in the previous three months.