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Economic Outlook in Key Markets Real GDP (Annual % Change) 2000-14 Country 2015F 2016F 2017F Avg. Mexico 2.3 2.5 2.5 3.5 Peru 5.4 3.0 3.5 4.4 Chile 4.3 2.1 1.9 2.9 Colombia 4.3 3.2 2.9 3.2 2000-14 2015F 2016F 2017F Avg. Canada 2.2 1.2 1.1 2.5 U.S. 1.9 2.4 2.2 2.7 Source: Scotia Economics, as of February 1, 2016 27 27 Scotiabank®

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