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Economic Viewpoint

Economic growth: in search of a new momentum- First component

November 3, 2016
François Dupuis, Vice-President and Chief Economist • Joëlle Noreau, Senior Economist

Economic growth around the world continues to be sluggish, and the repercussions of that lack of strength are increasingly a subject of concern. The instability and uncertainty that are sapping confidence are also lessening the impact of the current economic policies. We are no longer witnessing a synchronized recovery of economies. An atypical crisis has been followed by an atypical recovery and an atypical expansion phase. We need to recognize that the reference points that economists and decision-makers were used to, are no longer there. This study presents, first of all, a retrospective of the economic conditions that have prevailed over the past 15 years. It shows that accelerating globalization, the deleveraging crisis and the aging population around the world have swept away the old milestones. Therefore, we must find new paths towards growth.