This year, the world economy will post its strongest growth since 2000, according to The Conference Board of Canada’s World Outlook Winter 2004.

“The long-awaited U.S. rebound is the primary factor propelling the world economy to growth of 3.5% in 2004,” said Kip Beckman, principal research associate, in a news release. “Both Canada and Mexico will benefit from a recovery in the U.S., and many Asian countries will gain a boost from expanding demand for information technology products.”

North America will generate real gross domestic product growth of 4.3%. The Conference Board says the U.S. consumer is showing a willingness to spend and business investment has revived in response to rising profitability. After sputtering throughout much of 2003, U.S. job growth is expected to resume in 2004.

The United Kingdom will lead a moderate rebound in Europe, although overall GDP growth for the euro zone is expected to trail other global regions at only two%.

In 2004, Japan’s economy is expected to maintain the recovery that started last year, as its two largest trading partners, the United States and China, post strong growth. The Chinese economy is expected to increase by more than 8% for the second consecutive year.

Brazil’s economy will bounce back in 2004-after a year of tight fiscal and monetary policy-to lead South America to overall growth of 3.8%. Countries such as Uruguay, Venezuela, Argentina and Chile will also experience solid expansions this year.