Scotiabank Risk Overview
% OF GDP
Real GDP Growth
Canadian Economy
Diverse sources of growth with a strong balance sheet
20.2%
Finance, Insurance,
& Real Estate
14.8%
Other
4.1%
Transportation
& Warehousing
6.6%
Professional,
Scientific,
& Technical
Services
7.0%
CANADIAN GDP
BY INDUSTRY
(Nov. 2022)
Public Administration
GDP 2022E: 3.6%
12.5%
Health & Education
7.3%
10.4%
Wholesale &
Retail Trade
9.3%
Manufacturing
7.7%
Mining and Oil
& Gas Extraction
Construction
GDP 2023F: 1.1%
GDP 2024F: 1.6%
General Government Net Debt
2021 2022E
ANNUAL % CHANGE
N
3
U.S.
2010-2019
Canada
Eurozone
U.K.
Japan
2022E-2024F Avg.
Sources: Scotiabank Economics, Haver Analytics, Statistics Canada.
Forecasts as of Feb 6, 2023.
Government Financial Deficits
0
-4
-6
168 173
138 135
-8
100 95
101 100
84
86 83
-10
75
% OF GDP
47 48
32 31
-12
CA
GE
Adv.
CA
GE
U.K. Adv. Econ.
U.S.
FR IT JN
Econ.
Sources: IMF Oct 2022 Fiscal Monitor. Calendar years shown.
N
(5.0)
(2.2)
(3.7)
(3.3)
(7.2)
(3.6)
(10.9)
(4.0)
(8.0)
(4.3)
(6.4)
(5.1)
(7.2)
(5.4)
(6.7)
2021 2022E
U.S.
U.K.
FR IT
JN
Scotiabank Economics, IMF Oct 2022 Fiscal Monitor, CBO. Calendar years shown.
61
(7.9)View entire presentation