Louis Poirier is an economist in the International Projection division in the International Economic Analysis Department. He contributes to producing the global macroeconomic outlook featured in the quarterly Monetary Policy Report. Louis holds an M.A. in applied economics from HEC Montréal.
The impact of oil price shocks on the U.S. economy is a topic of considerable debate. In this paper, we examine the response of U.S. consumers to the 2014–2015 negative oil price shock using representative survey data from the Consumer Expenditure Survey.
This note estimates potential output growth for the global economy through 2019. While there is considerable uncertainty surrounding our estimates, overall we expect global potential output growth to rise modestly, from 3.1 per cent in 2016 to 3.4 per cent in 2019.