Four years after pandemic lockdowns began and COVID-19 reshaped the world in profound ways, our latest Global Economic Outlook (GEO) forecasts a smooth—albeit uninspiring—ride through 2024, with the global economy expected to grow by 2.9%. Next year, we expect growth to shift into higher gear, with a robust increase of 3.3%, as lower interest rates allow us to leave the post-pandemic economy behind.
Canada’s economy is expected to grow below trend at only 0.9% in 2024, before accelerating to 1.8% in 2025. In contrast to Canada, American consumers have worked hard to repair their balance sheets over the last 15 years. EDC Economics anticipates U.S. growth of 2.3% in 2024.
Export Development Canada’s 2024 GEO is a must-read, packed with valuable information, as well as insights on the world’s key economies, interest rates, commodity prices and exchange rates. Click below to read the full report.