Investor Presentaiton
Stable Economic Fundamentals
Canada
Economy has moderated in 2015 due to persistently
weak commodity prices
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 expectations within Bank of Canada
target Band
Non-resource exports are improving supported by
competitive Canadian dollar, improving US demand
Inflation
6
y/y % change
5
4
3
2
1
0
-1
-2
00
02
04
90
06
08
80
Bank of
Canada
Target
Inflation
Band
A
10 12
14
14
%
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
Source: Statistics Canada, BLS, Scotiabank Economics. Data through January 2016.
Labour Force Participation Rate
2228 2222222
61
60
90
70
%
69
68
67
66
Canada
65
64
63
62
U.S.
Source: Statistics Canada, BLS, Scotiabank Economics. Data through January 2016.
160
12
92
92 94 96
98
g
00 02
U.S.
Canada
10
04
06 08 10 12
14
16
Source: Statistics Canada, BLS, Scotiabank Economics. Data through January 2016.
Scotiabank®
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