bombardier business aircraft market forecast - Bombardier Events ...

WEAK PERFORMANCE IN U.S. AND EUROPEANECONOMIES SO FAR IN 2012, OUTLOOK FOR 2.6%WORLD GDP GROWTH IN 2013Real GDP Growth (Q/Q-1), 2010-2012U.S.Eurozone3.8%1.0%2.5% 2.3%0.4% 0.3%0.4%0.8%1.3%1.8%0.1% 0.1%3.0%2.0%0.0%1.7%-0.3%-0.2%Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12• We (Citigroup) continue to look for global growth at about 2.5% this year and 2.6% for 2013• There were notable downgrades to the forecasts for China and Japan due to global liquidity easing potentiallycomplicating China’s efforts to contain goods and asset price inflation and continued decline in exports in Japan.• There are more modest forecast downgrades to a range of emerging markets, especially in Asia and Centraland Eastern Europe due to economic growth in major countries likely to remain substandard in 2013.• The Fed's impatience with subpar job growth has prompted a new easing campaign that appears likely to persistwell into next year.• Barring a fiscal policy calamity, recovery's micro-foundations suggest a gradual improvement in the growthoutlook.• With its OMT (Outright Monetary Transactions) Program, the European Central Bank (ECB) reduced the risk ofa near-term break-up of the euro area.• It is now up to Euro Area governments to set up support packages in order to benefit from ECB support.• We expect the ECB to cut the refinance rate further to 0.25% in early 2013 and set a negative deposit rate.SOURCE: BLUE CHIP ECONOMIC INDICATORS, JULY 2012 , CITIGROUP GLOBAL OUTLOOK AND STRATEGY – SEPTEMBER 20127