Scotiabank Track Record
14
%
12
Stable Economic Fundamentals
Canada
Strengthening economic growth alongside firmer
commodity prices and a gradual rebound in non-
energy exports
Household spending remains reasonably buoyant,
underpinned by relatively low and stable
unemployment, as well as low borrowing costs
Population and labour force growth supported by
strong immigration
Stable inflation within Bank of Canada target band
6
y/y % change
5
4
3
2
1
0
-1
-2
00
02
04
Inflation
Bank of
Canada
Target
Inflation
Band
Canada
06
08
10
12
10
Unemployment Rate
Canada
8
6
4
2
0
U.S.
90 92 94 96 98 00 02 04 06 08 10 12 14
Sources: Scotiabank Economics, Statistics Canada, BLS. Data through January 2017.
Labour Force Participation Rate
70
%
69
68
67
66
65
64
63
62
2 223 2222
U.S.
61
14
16
Sources: Scotiabank Economics, Statistics Canada, BLS. Data through 2016Q4.
41
60
90 92 94
44
96
96
98
00
00 02
42
Canada
U.S.
04 06 08 10 12
14
16
Sources: Scotiabank Economics, Statistics Canada, BLS. Data through January 2017.
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