TD, like the Bank of Canada and a consensus of economists, is estimating growth will rebound to about 2.3 per cent in 2014. That would follow two years of sub-par growth at 1.7 per cent in 2012 and an estimated 1.7 per cent growth this year.
Five years after a global financial crisis erupted, the world's biggest economies still need to be propped up. They're growing and hiring a little faster and creating more jobs, but only with extraordinary aid from central banks or government spending.
Andrea Ortiz, a 24-year-old Spaniard, has degrees in law and business and works in a multinational clothing company -- as a store clerk. She has little hope of advancement and fears that when finally she secures a job she wants, she'll have no idea how to do it well.
TD Bank raised its outlook for Canadian economic growth for the third quarter on Wednesday and said consumer spending will be the driving force -- not exports and business spending, as it had thought earlier.
The head of the Bank of Canada gently urged businesses to ease open the purse strings and start spending Wednesday as he said the economy was nearing a tipping point toward normal growth following the global recession.
A robust recovery for the global economy remains well out of reach. That's the view that emerges from a survey of economists just as the Federal Reserve is expected this week to reduce its stimulus for the U.S. economy.