Investor Presentaiton
Economic Outlook in Core Markets
Real GDP Growth Forecast (2021-23)
Real GDP (Annual % Change)
Forecast 1,2
Country
2010-19
Average
2020 2021F
2022
2023
Q1F
Q2F
Q3F Q4F
Year Q1F Q2F
Q3F
Q4F Year
Canada
2.2
-5.3
4.9
2.6
4.0
4.2
4.1
3.8
4.0
3.5
2.8
2.4
3.2
U.S.
2.3
-3.4
5.8
5.3
4.7
4.6
3.7
4.6
3.3
2.9
2.6
2.4
2.8
Mexico
2.7
-8.3
6.2
3.7
3.4
2.4
2.1
2.9
1.8
1.3
1.9
1.4
1.5
Chile
3.3
-5.8
12.0
11.4
9.5
0.7
-2.2
4.5
-1.7
0.3
3.5
5.9
2.0
Peru
4.5
-11.1
12.3
1.7
0.5
4.9
3.1
2.6
2.5
4.3
1.5
2.3
2.8
Colombia
3.7
-6.8
9.1
5.1
7.8
2.9
2.0
4.5
3.6
3.6
3.7
3.8
3.7
PAC Average³
3.6
-8.0
9.9
5.5
5.3
2.7
1.3
3.6
1.6
2.4
2.7
3.4
2.5
Source: Scotiabank Economics.
1 Forecasts for Canada and U.S. as of the October 20, 2021 Scotiabank Economics Global Forecast Tables.
² Forecasts for PAC countries as of the November 5, 2021 Scotiabank Economics Latam Weekly.
3 Simple average.
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