ATB leverages its understanding of Alberta's economy to produce a quarterly economic forecast for the province.
Chart of the week
February 23, 2024
The decline in extreme rates of global poverty
Economic news can seem pretty gloomy—high inflation, rising debt levels, and recession fears regularly steal the headlines. One fact sometimes overlooked is the progress made in reducing extreme poverty worldwide. China stands out. The country’s emergence as the second largest economy in the world has been accompanied by an amazing improvement in its standard of living. According to Our World in Data, 97% of people in the Chinese countryside lived in extreme poverty in 1981 versus less than 1% today. However, high rates of extreme poverty still exist, particularly on the continent of Africa, with Mozambique, Malawi, Central Republic of Africa, and Niger with rates above 50%.
The Owl (Daily Insights)
Retail sales, the unemployment rate, population growth, inflation, international trade—these are just a few of the economic trends the team makes sense of in ATB’s daily insights.
A review of the key economic highlights of the week impacting Alberta.