1 Scotiabank's Commodity Price Index rose to a near-term peak in April 2011 — just prior to financial market concern over excessive Eurozone sovereign debt and the negative impact on global economic growth. 2 The subsequent decline in commodity prices from April 2011 to December 2012 at -19.8% was less than half the slide during the 2008 recession. 3 The All Items Index has leveled off in 2013, though prices have lost steam since May and will likely drift lower through late 2013. The correction since April 2011 - linked to austerity-led recession in the southern Eurozone, a sub-par U.S. economic recovery and new mine supply commissioned in a slowly growing global economy - should be largely over in 2014.
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