Description

Growth in North American is expected to stabilize in 2015 owing to a healthy rebound in the US economy. Driven by resilient consumer demand, it is anticipated that the region will grow by 2.5 percent in H1 2015. A strong US dollar and increased demand from the US may boost Canadian exports in H1 2015. External factors such as the slowdown in the Chinese economy and European Central Bank’s Quantitative Easing are expected to moderately hamper the region’s exports in H1 2015, as the US dollar is expected to appreciate further. A sharp decline in gasoline prices boosted consumer sentiment in 2014; however, oil producers are expected to curtail production in 2015 due to declining profits.