Stuart Bergman

Vice-President and Chief Economist
Export Development Canada


A slow-then-grow recovery

In our latest Global Economic Outlook (GEO), we expect that the Bank of Canada, the U.S. Federal Reserve, and the European Central Bank will begin cutting policy rates, but it’ll take them well into 2025 before they reach their neutral levels—the point at which rates neither help nor harm economic activity.

Overall, the global economy will expand by just 2.8% in 2024, before generating a more robust growth of 3.3% in 2025—a pace more in line with pre-pandemic levels. Canada’s economy is also expected to see below-trend growth in the first half of 2024, but tick up in the latter half of the year.

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.

Forecast table of GDP growth rates for select countries and regions


Forecast table of interest rates, exchange rates and U.S. housing starts


Forecast table of prices for oil, natural gas, gold and copper


Globe rests on a table

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.


Businessman prepares to cross street in busy downtown

Interest and exchange rates

Take a look at key interest and exchange rates for Canada, Europe and the United States.


Sun sets over oil rig

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.



Date modified: 2024-01-16