World Outlook: Global Economic Trends and Prospects: Spring 2002

International issues that have an impact on Canadian organizations are highlighted in this quarterly publication.

Document Highlights 

After dismal growth in 2001, the world economy is clearly on the road to recovery. Real growth of 1.4 per cent is anticipated this year, improving on last year’s 1.2 per cent gain.

Highlights of this issue include:

• The U.S. economy grew by 1.4 per cent during the second half of 2001, and Canada’s by 2 per cent, mainly because of strength in consumer spending.
• The anticipated rebound in U.S. economic activity, a result of the improvement in the manufacturing sector, will drive growth around the world.
• The economic rebound in Europe will lag that of the United States mainly because many countries in this region are plagued by high rates of unemployment.
• Another year of declining economic growth anticipated in Japan constitutes a major risk to the world outlook.