Global Economic Outlook—Autumn 2023
With loosening domestic labour markets 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.
While central banks around the world have taken drastic measures to tame prices through rate increases, these actions are weighing heavily on global economic growth. This weakness is expected to continue until rate cuts begin later next year and work their way through the economy.
EDC Economics expects the global economy to grow by just 2.9% in 2023 and 2.7% next year. With a slowing labour market and debt burdens stifling demand, Canada’s growth forecast sits at just 1.3% this year and dropping to 0.6% in 2024. We expect growth to slow in the United States to 2% in 2023 and just 0.6% in 2024. As Europe struggles to avoid stagnation, we expect growth to bottom out at 0.7% this year, before settling at 1.1% in 2024.
Export Development Canada’s 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. Click below to read the full report.
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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