OTTAWA ? A snapshot of the global economy in 2015 could look an awful lot like last year\’s picture – but with a slightly more positive outlook.
Why Canadian oil stocks are in for a reality check
Canadian energy information mill trading at record valuations, signalling their shares haven\’t swept up to the reality of crude oil\’s continued decline.
The focus will stay sharply on the disruption to oil markets, and that should continue throughout the next year.
But the impact of the price shock will also provide an \”income transfer from producers to consumers\” in the United States,\” TD Economics predicts inside a series of reports released Tuesday.
\”This may benefit not only America, but also the rest of the world.\”
For Canada – which still counts on the world\’s largest economy to create most of its export dollars – economic output, personal income and employment growth will gradually improve in the second half of 2015, along with a mild recovery in oil prices, according to TD Economics.
\”As an effect, we anticipate that the Canadian economy will weather the present oil-price storm,\” with the added benefit of a \”modest acceleration\” in other major economies, although emerging markets – most importantly China, the world\’s No. 2 growth engine – will face slower growth.