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What is Trending in 2016 in North America
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The 2016 economic outlook for the US is stable owing to improved housing and strong domestic demand. Growth in Canada is likely to continue to be poor even in 2016 due to its overdependence on oil and other commodities. The energy renaissance in North America in the form of US shale gas and Canadian oil sands has been setback due to low oil prices. In 2016, oil and gas drilling activity in North America is expected to remain shrunken followed by job losses in the energy sector. While the US is on a policy halt at the moment after an interest rate hike in December 2015, Canada is eyeing an ambitious fiscal stimulus to boost growth.
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