Financing corporate investment is currently of outmost importance for economic growth both in the euro area as a whole and in the periphery countries, which have suffered particularly from deep and prolonged recessions. Remarkably, private investment in the euro area has declined from 20% of GDP in 2008 to 16% of GDP in 2013.
Another factor that has been supporting economic activity in Canada is the amazing strength of the US economy, our major export market. That economy has had a remarkable eight-year-long expansion, marked by vigorous growth in production, strong gains in employment, and low inflation.