Investor Presentaiton
Economic Outlook in Core Markets
REAL GDP (ANNUAL % CHANGE)
Forecast¹
Country
2010-20
Average
2021
2022
2023
2024
Q1
Q2E Q3F Q4F
Full
Year
Full
Q1F Q2F Q3F
Q4F
Year
Canada
1.6
5.0
3.4
2.2
1.7
1.4
1.5
1.7
0.6
0.6
0.9
1.6
0.9
U.S.²
1.8
5.9
2.1
1.8
2.6
1.4
0.7
1.6
0.4
00
0.1
0.5
1.0
0.5
Mexico²
1.7
4.7
3.0
3.7
3.7
3.2
2.2
3.2
1.9
19
1.2
1.4
1.9
1.6
Chile²
2.5
11.7
2.4
(0.8)
(1.1)
(1.0)
(0.2) (0.8)
10
1.0
2.4
2.2
3.6
2.3
Peru²
3.1
13.4
2.7
(0.4)
(0.5)
=1
3.1
3.1
1.4
44
3.3
3.2
1.2
1.7
2.3
Colombia²
2.7
11.0
7.3
3.0
0.3
1.6
2.2
1.8
2.5
2.7
2.4
2.8
2.6
PAC Average
2.5
10.2
3.9
1.4
44
0.6
1.7
17
1 Source: Scotia Economics. US and Canada forecast as at July 20, 2023, Pacific Alliance countries forecast as at August 11, 2023
2 Q2/23 GDP data for US, Mexico, Chile, Peru & Colombia are an advanced estimate as of August 23, 2023
1.8
1.4
2.2
2.4
1.8
2.5
2.2
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