Canada NewsWire
TORONTO, Oct. 15, 2018
TORONTO, Oct. 15, 2018 /CNW/ – Global growth remains strong, but the downside risk associated with trade tensions between the U.S. and China cloud prospects for an otherwise robust economy. These findings were reported in the most recent Global Outlook report, published today by Scotiabank Economics.
"The consequences of escalating trade actions are undeniable: higher prices in China and the U.S., less purchasing power for consumers in these countries, higher input costs, heightened financial market volatility and possibly higher interest rates. These effects would likely spill over from these countries to others given that China and the U.S. account for close to 34% of global GDP when measured on a PPP basis," said Jean-François Perrault, Senior Vice President and Chief Economist at Scotiabank.
Highlights from Scotiabank's quarterly Global Outlook for October, 2018:
Read Scotiabank's Global Outlook online at: https://www.gbm.scotiabank.com/scpt/gbm/scotiaeconomics63/globaloutlook_4Q2018.pdf
About Scotiabank
Scotiabank is Canada's international bank and a leading financial services provider in the Americas. We are dedicated to helping our 25 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 96,000 employees and assets of $947 billion (as at July 31, 2018), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.
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SOURCE Scotiabank
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