International Banking Performance Overview
Canadian Economy
Diverse sources of growth with a strong balance sheet
22.4%
Finance, Insurance,
& Real Estate
14.4%
Other
3.6%
Transportation
& Warehousing
6.4%
Professional,
Scientific,
& Technical
Services
7.2%
CANADIAN GDP
BY INDUSTRY
(May 2020)
Public Administration
-12.0%
Real GDP Growth
Health & Education
7.3%
10.1%
Wholesale &
Retail Trade
8.9%
Manufacturing
7.6%
Mining and Oil
& Gas Extraction
Construction
3
N
ANNUAL % CHANGE
C
GDP Forecast 2020: -5.7%
GDP Forecast 2021: +4.1%
General Government Net Debt
% OF GDP
U.S.
Canada
Eurozone
U.K.
Japan
2010-2018
2019-2021f
Sources: Scotiabank Economics, Haver Analytics, Statistics Canada.
Forecasts as of August 4, 2020.
Government Financial Deficits
0
-5
(10.7)
-10
168.9
(12.7) (12.7) (13.6)
(14.7)
142.7
(15.9)
-15
(16.6)
106.7
107.0
94.2
85.9
-20
49.0
49.2
% OF GDP
(23.8)
-25
GE
UK
IT
FR
JN
CA*
Adv.
US
ST
Canada Germany
U.K.
OECD
France
U.S.
Italy
Japan
Econ.
* Canadian government net debt obtained from Scotiabank Economics' Federal Economic and Fiscal
Snapshot (July 8, 2020).
* Canadian federal deficit reflects Scotiabank Economics' forecast as of Aug. 4, 2020.
Sources: Scotiabank Economics, IMF WEO (June 2020 estimates), CBO.
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57
Sources: Scotiabank Economics, IMF Fiscal Monitor (April 2020).View entire presentation