This Spring Outlook has three sections. The first section sets out our view of the economic outlook commencing with a very short summary of recent world economy dynamics, followed by a review of the outlook for global growth and Canadian growth for 2016 to 2018. The second section examines the expected adjustment of the Canadian economy to the oil price fall of the last year and a half and discusses how productivity growth could be raised through strategic infrastructure investment in order to counter the effects of lower future terms of trade on Canadian real income. The third section analyzes likely global trade developments and their implications for Canada.