Standing Committee on Public Accounts (PACP) Department of Finance Appearance on the Public Accounts of Canada 2024
G7 comparisons
| Forecast | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23Q1 | 23Q2 | 23Q3 | 23Q4 | 24Q1 | 24Q2 | 24Q3 | 2021 | 2022 | 2023 | 2024 | 2025 | |
| Canada | 3.9 | 0.8 | -0.6 | 0.7 | 2.0 | 2.2 | 1.0 | 6.0 | 4.2 | 1.5 | 1.3 | 2.4 |
| U.S. | 2.8 | 2.5 | 4.4 | 3.2 | 1.6 | 3.0 | 2.8 | 6.1 | 2.5 | 2.9 | 2.8 | 2.2 |
| Japan | 5.0 | 2.1 | -4.1 | 0.7 | -2.2 | 2.2 | 1.2 | 2.8 | 0.9 | 1.5 | 0.3 | 1.1 |
| U.K. | 0.4 | 0.0 | -0.4 | -1.3 | 2.8 | 1.8 | 0.6 | 8.6 | 4.8 | 0.3 | 1.1 | 1.5 |
| Euro area | -0.1 | 0.3 | 0.0 | 0.2 | 1.2 | 0.7 | 1.7 | 6.3 | 3.6 | 0.5 | 0.8 | 1.2 |
| Germany | 0.6 | -0.6 | 0.8 | -1.5 | 0.9 | -1.1 | 0.4 | 3.6 | 1.4 | -0.1 | 0.0 | 0.8 |
| France | 0.2 | 2.7 | 0.2 | 1.8 | 0.8 | 0.7 | 1.6 | 6.8 | 2.6 | 1.1 | 1.1 | 1.1 |
| Italy | 1.4 | -0.8 | 0.9 | -0.1 | 1.3 | 0.7 | 0.0 | 8.8 | 4.8 | 0.8 | 0.7 | 0.8 |
| China | 7.4 | 2.8 | 6.1 | 5.3 | 6.1 | 2.0 | 3.6 | 8.4 | 3.0 | 5.2 | 4.8 | 4.5 |
|
Sources: Haver Analytics, IMF October 2024 World Economic Outlook. 2004 data are forecast. |
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| Country | Current (15 to 64) | Current (15+) |
|---|---|---|
| Canada | 74.2 | 60.8 |
| Germany | 77.4 | 59.5 |
| Japan | 79.3 | 61.6 |
| U.K. | 74.5 | 60.0 |
| France | 69.0 | 52.5 |
| U.S. | 71.8 | 60.1 |
| Italy | 62.0 | 46.5 |
|
Note: Last data points are 2024Q3 for Canada and U.S., Japan and U.K., all others are 2024Q2. Source: OECD |
||
| Latest | |
|---|---|
| Canada | 7.4 |
| France | 5.3 |
| U.S. | 4.6 |
| Italy | 4.6 |
| Germany | 3.6 |
| U.K. | 2.1 |
| Japan | 0.5 |
|
Notes: Last data points are November 2024 for U.S. and Canada, October 2024 for Japan, Italy, and Germany, and 2024 Q3 for U.K. and France. Compares to the level of February 2020, except for France and the UK (2019Q4). Source: Haver Analytics. |
|
| January | February | March | April | May | June | July | August | September | October | November | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| U.S. | 3.1 | 3.2 | 3.5 | 3.4 | 3.3 | 3.0 | 2.9 | 2.5 | 2.4 | 2.6 | 2.7 |
| U.K. | 4.0 | 3.4 | 3.2 | 2.3 | 2.0 | 2.0 | 2.2 | 2.2 | 1.7 | 2.3 | -- |
| Japan | 2.1 | 2.8 | 2.7 | 2.5 | 2.9 | 2.9 | 2.7 | 3.0 | 2.5 | 2.2 | -- |
| Germany | 2.9 | 2.5 | 2.2 | 2.2 | 2.4 | 2.2 | 2.3 | 1.9 | 1.6 | 2.0 | 2.2 |
| Canada | 2.9 | 2.8 | 2.9 | 2.7 | 2.9 | 2.7 | 2.5 | 2.0 | 1.6 | 2.0 | 1.9 |
| France | 3.1 | 3.0 | 2.3 | 2.2 | 2.3 | 2.2 | 2.3 | 1.8 | 1.1 | 1.2 | 1.3 |
| Italy | 0.8 | 0.8 | 1.2 | 0.8 | 0.8 | 0.8 | 1.3 | 1.1 | 0.7 | 0.9 | 1.3 |
Central Banks |
Policy Rate (%) | Change since its peak (p.p.) |
|---|---|---|
| Federal Reserve | 4.50-4.75 | -0.75 |
| Bank of England | 4.75 | -0.50 |
| Bank of Canada | 3.25 | -1.75 |
| European Central Bank | 3.00 | -1.00 |
| Bank of Japan | 0.25 | N.A. |
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