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Global Economic Outlook 2015—North America

Global Economic Outlook 2015—North America

The US economy is expected to grow by 􂀀% in 2015, up from a 􂀀% in 2014. For Canada, the outlook has been scaled back to 􂀀% in 2015 due to falling oil prices, which will lead to lower corporate profits and weaker income growth.

A combination of falling energy prices and a rising US dollar will hold down inflation in 2015. From an average of 􂀀% in 2014, Consumer Price Index (CPI) inflation is expected to fall to 􂀀% in 2015 in the US. In Canada, headline inflation is expected to move along with oil prices, while core inflation is likely to remain near 􂀀%.

In 2015 growth in US will be driven by rising income, repressed demand, a strengthening housing sector, and lower oil prices. In Canada, the key driver will be international trade, as exports will continue to receive a boost from a weak Canadian dollar and the accelerating pace of the US economy.

About this report

North America is expected to remain fairly stable in 2015 due to improved domestic demand and business confidence. The US economy is expected to grow by 3.1% in 2015, up from 2.4% in 2014, driven by rising incomes, long-standing repressed demand, a strengthening housing sector, and lower oil prices. For Canada, the outlook has been scaled back to 1.9% in 2015 due to falling oil prices leading to lower corporate profits and weaker income growth. The key driver will be international trade, as exports will continue to receive a boost from a weak Canadian dollar and an accelerating US economy.


  • Executive Summary
    • Executive Summary-Economic Growth Trends for 2015
    • Executive Summary-North America Highlights
    • Executive Summary-North America Growth Sentiment
    • North America Industry Outlook-2015
  • Definitions
    • Definitions of Indicators and Measurements
    • Definitions-Geographic Coverage
  • Regional Insights and Trends-North America
    • North America-Economic Growth Trends
      • Table Global Economic Tracker: GDP Growth Rates, North America, 2013-2017
    • North America-Regional Performance
    • North America-Industry Performance
  • Canada
    • Canada-Key Performance Indicators
    • What is Trending over 2015 in Canada?
    • Canada-Industry Indicator Scorecard
      • Table Global Economic Tracker: Value Add to GDP Growth, Canada, 2013-2017
    • Canada-Industry Performance
  • The United States
    • United States-Key Performance Indicators
    • What is Trending over 2015 in the United States?
    • United States-Industry Indicator Scorecard
      • Table Global Economic Tracker: Value Add to GDP Growth, US, 2013-2017
    • United States-Industry Performance
  • Conclusion and Key Takeaways

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