EFC’s Economic Forecast Day looks at global impact
Toronto, ON -- Electro-Federation Canada (EFC) held its 2006 Economic Forecast Day on Sept 28, 2005, drawing over 1...
Toronto, ON — Electro-Federation Canada (EFC) held its 2006 Economic Forecast Day on Sept 28, 2005, drawing over 120 members and guests. The event featured special presentations by Maureen Farrow, Economap; Don Leavens, NEMA; Iain Morris and Danielle Bushen, Mercer Human Resource Consulting; and Peter Norman, Clayton Research Associates. Key highlights brought to the forefront by the presenters include:
India and China will rise as leading economies in the coming years. Both countries are growing at the rate of 6-7% each year. Also, by 2015, China and India will create three-to-four times the number of new middle class families that were created in North America, Europe, and Japan between 1947-1964 (baby boomers).
Global economy growth shows resiliency, but there are several factors that can inhibit growth: change in consumer confidence indexes; further rise in oil prices; collapse of house prices; onset of geopolitical events; pandemic; and other factors.
North America’s electro-industry business confidence jumped to 83.3 in September 2005 due to expected reconstruction demand. This index is expected to fall to 66.7 in six months (compared to current conditions).
Construction investment and economic contribution in Canada has grown by 5% per year. Slower job growth is expected to affect consumer confidence, thereby having an impact on home-buying patterns.
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