Global Economic Outlook—Spring 2024
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.
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.
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.
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