Global Economic Outlook—Summer 2024
With unemployment continuing to rise and slumping global demand, 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.
Our summer Global Economic Outlook report 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.
EDC Economics expects the global economy to see modest growth of 3.1% in 2024, as key central banks begin their policy rate descent. In 2025, growth will increase to 3.5%, as the lagged effects of interest rate cuts and a more stable price environment improve demand conditions. We expect the U.S. economy to post growth of 2.3% in 2024, and 1.8% in 2025.
The Euro Area’s growth outlook is losing momentum and is just 1% in 2024 and 1.7% in 2025. While China’s economy will continue to face challenges, it’ll record growth of 5% this year and 4.6% in 2025.
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 2024 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.
You should also check out
EDC Economics: Connecting Canada to the world
With timely insights and financial analysis from our experts, Export Development Canada can help you enter new markets, grow your global business, and reduce risks with confidence.