Credit Performance Review

Economic Outlook in Key Markets Growth expected to accelerate across the Pacific Alliance 2018 AND 2019 REAL GDP GROWTH FORECAST (%) Real GDP (Annual % Change) Country 2000-17 avg. 2018e 2019f 2020f Mexico 2.2 2.0 1.4 1.3 Peru 5.0 3.6 4.0 4.0 Chile 3.9 4.2 3.2 3.2 Colombia 3.9 2.6 3.4 3.8 PACS simple avg. 3.8 3.1 3.0 3.1 2000-17 avg. 2018e 2019f 2020f Canada 2.1 2.0 1.8 2.0 U.S. 2.0 2.9 2.4 1.7 Source: Scotiabank Economics. Forecasts as of February 7, 2019. Scotiabank® 37

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