A recent poll of economists done by Reuters suggests that much of the world is placing their confidence in the stalwart Canadian economy to lead the way back to stable financial footing.

Most of the respondents expressed a lack of optimism in many markets across the world, with a significant downgrade in expected growth from the last poll done in July.

The world economy is now expected to grow by 3.8% for 2011, and only 3.6% for 2012, down significantly from the 4.1% and the 4.3% from the last forecast.

Still, economic growth is not a certainty by any means, with many pockets in the globe still mired with financial troubles, growing unemployment and sovereign debt crises.
Compared to many of the other members of the G7, economists have picked Canada’s GDP to have the greatest rate of growth.

There is a belief that the US economy will demonstrate growth by the end of the year, although nearly 1 out of 3 of the respondents believes that the US is on track for a recession. Analysts have pointed to Italy as another trouble spot with mounting national debt problems a cause for concern.
The Euro Zone in general is problematic for overall global economic growth. Analysts have the zone pegged to grow by a tiny 1.6% in 2011, followed by a meagre 0.9% in 2012. The region, according to economists, is facing strong likelihood that it will enter a recession.