Canadian investment advisers and analysts aren't very confident the Canadian economy will grow next year.
Only 47% of CFA charter holders in Canada expect their local economy to grow in 2014, according to the CFA Institute's annual global market sentiment survey that garnered responses from more than 6,500 investment professionals with the CFA designation.
That level of confidence contrasts the significant optimism of investment professionals about the global economy next year. According to the survey, nearly two-thirds of charter holders around the world expect the global economy to grow next year, up from 40% of CFA members last year.
Investment professionals in Europe were among the most optimistic (69%), followed by those in the Americans (62%) and Asia (56%).
Among the most optimistic members were those in the United Kingdon (78%), Brazil (74%) and Germany (70%). Much of the optimism globally stems from the belief that there has been significant progress with the Eurozone sovereign debt crisis and confidence that economic growth in Japan will continue.
Nearly three-quarters of members in the U.K. and Japan expect their local economies to grow next year, a significant shift from the 31% of U.K. members and 11% of Japanese CFA holders who felt the same way last year.
Despite the optimism, professionals were aware of the significant risks that remain in the global economy that could affect global capital markets. Nearly a third were concerned with continued weak economic conditions, 25% were concerned with political instability and 20% were still concerned about systemic disruptions occurring.
