SwissRe Economic Outlook September 2004

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Consumer spending and business investment will lead the economy to growth of 2.9% this year and 3.5% in 2005. Manufacturing shipments reached a new peak in July.

Job growth disappointed again in August, but full-time employment increased by 15,400 jobs. The unemployment rate, currently at 7.2%, will likely fall to 7.0% by the end of next year before falling to its long-run equilibrium of around 6.7% at the end of 2006.

Inflation will remain tame until late 2005. The Bank of Canada (BoC) will raise rates at each of their next four meetings.

( Full Report, 2 pages, pdf, 27KB ).

About Swiss Re – the global reinsurer. With more than 70 offices in 30 countries, Swiss Re’s employees have the world at their fingertips. This presence allows us to serve our clients and colleagues in virtually every country the world over. We are singularly focused on our core business segments, which are risk transfer, risk retention financing and asset management.