Tag: Economy

Despite higher interest rates, the Canadian economy is exceeding expectations and has dodged the predicted 2023 recession. Real GDP at basic prices grew 0.6% in January (7.4% annualized), and preliminary estimates pointed to 0.4% growth in February (4.9% annualized). This suggests that growth in the first quarter of 2024 is on track for around 3.5%, according to data from Statistics Canada.

NACM’s April Credit Managers’ Index (CMI) fell back to where it started in 2024 with a 3.1-point drop. Why it matters: Now sitting at 51.8, the Survey erased the major gains made in February and March.

NACM’s March Credit Managers’ Index (CMI) improved to its highest reading since 2023 with a jump of 2.5 points. Why it matters: Now sitting at 54.9, the Survey indicates some relief for the business economy. “The CMI seems to be picking up some steam, with a second month of improvement and a breakout of the tight band in which it had been for eight months,” said NACM Economist Amy Crews Cutts, Ph.D., CBE.

The U.S. economy kicked off 2024 powerfully. Business activity, labor markets, sentiment and inflation indicators have been trending favorably. Yet, we must stay vigilant as rising consumer debt and high interest rates threaten to slow down economic growth.

It’s a new month and the good news is that Congress finally passed a government funding bill that lasts through September; unfortunately, it’s only half of the government.

Tight macroeconomic policies in Colombia within the last two years are likely the cause of a reduction in domestic and external imbalances seen mainly in 2021-22. The Colombian economy is expected to grow 1.8% as inflation slows 5% this year, and the central bank plans to cut its interest rate to nearly 8%, according to Finance Minister Ricardo Bonilla.

Rising labor costs, new environmental regulations and a mixed outlook on construction volume present significant challenges to the industry. However, declining fuel costs and controlled inflation offer some relief.

NACM’s February Credit Managers’ Index (CMI) remains stubbornly close to contraction territory despite improving 1.3 points to 52.4. “We did not fall into formal recession in 2023 and we might not in 2024, but for many credit managers, it’s as if a recession is well underway,” said NACM Economist Amy Crews Cutts, Ph.D., CBE.

The Indian economy’s recent stellar performance is undeniable. It was the quickest expanding major economy in 2022 and 2023—and is projected to maintain this lead in 2024.