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TORONTO, Jan. 12, 2018 /CNW/ - The global economy continues to impress as household spending and business activity are accelerating or remaining strong in most economies we track across the globe.
"This robust global setting is providing a strong backdrop for Canadian growth, even though NAFTA and other geopolitical factors weigh on the outlook," said Jean-François Perrault, Senior Vice President and Chief Economist at Scotiabank. "While risks loom large, the strength in global activity is a powerful tonic against trade-related uncertainties."
Against this backdrop of synchronized growth, wage and inflation developments continue to diverge. In Canada, the United States and the United Kingdom, wage and/or inflation dynamics require a continued withdrawal of monetary stimulus, while in Europe and Japan, inflation remains stubbornly low with little sign of acceleration. All of this is occurring in an environment of heightened geopolitical concerns (the fear of developments in North Korea), trade and political developments in the United States, worries about equity market valuations and more generalized concerns about the length and sustainability of the current expansion.
Highlights of Scotiabank's Global Outlook include:
Read Scotiabank's Global Outlook online at: http://www.gbm.scotiabank.com/scpt/gbm/scotiaeconomics63/globaloutlook.pdf
Scotiabank provides clients with in-depth research into the factors shaping the outlook for Canada and the global economy, including macroeconomic developments, currency and capital market trends, commodity and industry performance, as well as monetary, fiscal and public policy issues.
Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 24 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 88,000 employees and assets of over $915 billion (as at October 31, 2017), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @Scotiabank.
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