After enjoying strong global growth in 2017 and the first half of 2018, the expansion we have seen in recent years is losing momentum. The International Monetary Fund (IMF) is forecasting global growth at 3.5% in 2019 and 3.6% in 2020; both forecasts have been revised downward from October; the second downward revision in 3 months. In advanced economies, the US will lead the pack with growth in 2019 at 2.4%. This represents a slowing of growth from 2018 where the US economy g

Up until the end of the third quarter the world was convinced that the glass was half full. Then abruptly, it switched to half empty. While there has been a long list of concerns in the marketplace this year, it was the prospect of a long and difficult trade war between the U.S. and China that tipped the Global stock market over in the fourth quarter. Let’s be clear, the expected slowing in Global growth has been well understood for a number of quarters. The IMF has a forecas

Canada’s GDP was up 2.9% in the second quarter, a little lower than what was expected but a good pick up from the first quarter of 1.7%. Strength was found in the export sector; this reflects the robust 4.2% GDP growth in the U.S. economy during the second quarter. Canada’s economy was held back by business concerns over the NAFTA negotiations. Our unemployment rate has declined to 5.8%. This is the lowest unemployment rate in over 40 years. There is some concern that th

The Canadian economy picked up strength during the spring. GDP growth for the first quarter was 1.3%. However, in the last three months to April, our growth was up 3.2%. (Clearly, January was a weak month.) Leading the economy during this period were the Goods Producing Industries which were up 7.7%. The GDP forecast of 2.0% for 2018 and 2019 looks to be achievable. Strength is coming from Business Investment which should be strong throughout the year. Business confidence as