Fitch Ratings expects economic growth in North America to improve in 2016. The U.S. economy will grow 2.5%, the same rate as in 2015, while Canadian growth will improve to 2% in 2016 from just 1% in 2015.
Real growth of Gross Domestic Product (GDP) in the G20 area remained stable at 0.7% in the third quarter of 2015, for the third consecutive quarter, but with diverging patterns across countries, according to preliminary estimates.
U.S. consumers spent less in November than analysts had expected, especially on cars and petrol. Retail sales volumes grew by 0.2% month-on-month to reach $448.1bn, according to the Department of Commerce.