Global Economic Outlook—Summer 2023
With rising interest rates and a slowing global economy, Canadian companies are facing new potential risks. EDC’s Global Economic Outlook provides insights, including overviews of key countries, to help you make better business decisions.
A rocky recovery
Following two solid years of post-COVID-19 catchup, the global economy has hit a soft patch. While we don’t anticipate a return to the lows of the pandemic period, we expect to see a drag on activity over the next 12 months, before economies stabilize later in 2024.
EDC Economics expects U.S. growth to fall to 1.3% in 2023 and just 1% the following year. Canada’s heavily indebted households will also dial back spending, to service higher debt costs, hitting overall activity and bringing gross domestic product (GDP) growth to 1.2% in 2023 and 1.4% in 2024. In Europe, we expect growth to fall to 0.9% this year and 1.1% in 2024.
Export Development Canada’s summer 2023 Global Economic Outlook 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.
Geopolitical economic impacts
Key economic indicators will show how geopolitical tensions, as well as supply chain issues, have impacted the global economy and the outlook for 2023 and beyond.
Interest and exchange rates
Take a look at key interest and exchange rates for Canada, Europe and the United States.
Commodity prices
Find out how commodities, like oil, natural gas, copper and gold, are performing globally.
Continue reading the Global Economic Outlook for more key insights.
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2023 Summer Global Economic Outlook
Understanding global economic conditions is key to making better decisions for your business.