2014-2015 Desjardins Group Economic Outlook - A new trend is beginning

LÉVIS, QC, Dec. 17, 2013 /CNW Telbec/ - According to the latest forecasts by the Desjardins Group Economic Studies' team, Canada's economy is expected to grow 1.7% in 2013. A 2.3% gain is expected for 2014 and 2015 should end with real GDP growth of 2.6%.

Quebec's real GDP growth should rise by 1.8% in 2014. Quebec's economy will only return to a cruising speed of over 2.0% in 2015, at 2.1 %, the best performance since 2010. Ontario should see its real GDP rise 2.1% in 2014 and 2.7% in 2015, as the improving U.S. economy should stimulate international exports.

Economic growth has slowed since 2010 in both industrialized and emerging countries. This trend should change in 2014, leading to slightly accelerating growth. Given that inflation is weak, monetary policies could remain expansionary, even if economic growth accelerates. It is thus difficult to envision key rate hikes in the United States and Canada before September 2015.

You can read the full study on the Desjardins Website.

About Desjardins Group

Desjardins Group is the fifth largest cooperative financial group in the world with assets of $210 billion. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services through its extensive distribution network, online platforms and subsidiaries across Canada. The group has one of the highest capital ratios and credit ratings in the industry, and outranks all American banks as the fourth safest and strongest bank in North America according to Global Finance magazine and Bloomberg News respectively. In keeping with their cooperative nature, Desjardins Caisses' surplus earnings are reinvested into the communities they serve.

SOURCE Desjardins Group

For further information:

(for journalists only):

André Chapleau
Media Relations
514-281-7229 or 1-866-866-7000, ext. 7229
media@desjardins.com

François Dupuis
Vice-President and Chief Economist
514-281-7322 or 1-866-866-7000, ext. 7322

Yves St-Maurice
Senior Director and Deputy Chief Economist
514-281-7009 or 1-866-866-7000, ext. 7009