Investor Presentation
Economic Outlook in Core Markets
Real GDP Growth Forecast (2022-23)
Real GDP (Annual % Change)
Forecast 1,2
Country
2010-19
Average
2020 2021
2022
2023
Q1E Q2F
Q3F
Q4F Year Year
Canada
2.3
(5.2)
4.6
4.0
4.4
4.0
2.6
4.2
3.0
U.S.
2.3
(3.4)
5.7
(1.4)
4.7
2.7
3.5
3.8
2.9
Mexico
2.7
(8.2)
4.8
1.6
1.5
1.6
24
2.1
1.7
1.9
Chile
3.3
(6.0)
11.7
7.9
5.8
0.5
(1.3)
3.0
0.0
Peru
4.5
(11.0)
13.3
3.8
2.5
2.1
2.9
2.6
2.8
Colombia
3.7
(7.0)
10.6
6.6
9.7
4.8
2.0
5.8
3.7
PAC Average³
3.6
(8.0)
10.1
4.9
4.9
2.3
1.4
3.3
2.1
Source: Scotiabank Economics
1 Forecasts for Canada and U.S. as of the April 12, 2022 Scotiabank Economics Global Forecast Tables
2 Forecasts for PAC countries as of the May 5, 2022 Scotiabank Economics Latam Charts Weekly
3 Simple average
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