North America: regional outlook summary

Despite ongoing geopolitical turmoil, the regional economy has proven to be quite resilient. We forecast that the US economy will expand by 2.2% in 2024. Meanwhile, Canada’s economy is forecast to grow by 1.9%, supported by the strength of the US market and strong commodity prices. However, with a Biden-Trump rematch looming, political and policy risk remain high.

Download EIU’s latest report to learn more about the critical trends and threats that will shape the economic, political and policy landscape in North America.

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Themes covered in this report:

US growth will prove resilient in 2024, strengthening Canada’s economy in the process

The avoidance of a recession in the US is unusual compared to past cycles

Industrial policy in the United States won’t shift decisively under either a second Biden or Trump presidency

Prospects are poor for advancing new legislation before US elections in November

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