What’s the road to economic recovery for Canada, the U.S. and across the globe? Discover below. TEC Canada is pleased to provide the Andersen Monthly Economic Report exclusively to our members. The former assistant chief of the Bank of Canada’s research department, Dr. Peter Andersen provides valuable economic insight to help you make better business decisions.
- Canada’s economic rebound will be narrower in scope, delayed and will affect industries differently. However, residential construction will provide some offset, as the housing boom in Canada is definitely stronger than in the United States.
- Canada’s export performance is currently slumping. It is not yet responding to the opportunity provided by the rebound in the U.S. economy.
- The U.S. economy is back. Fears of a double-dip recession have now been forgotten. The job openings surge this spring has exceeded everyone’s expectations and [companies] expect a longer-lasting business expansion.
- The average home price rose by 23.6% in May y/y. Due to the high prices, the supply has increased and will eventually lead to a moderation in home price.
- Today’s inflation worries are exaggerated. The digital transformation [from COVID] will have a fundamental impact on cost management, opportunity awareness and potential growth. It will provide a much-needed headwind to supply-chain cost pressures and will prevent a disruptive surge in both inflation and interest rates.
- The prospects of a strong economic reopening have pushed Brent and WTI crude oil prices to a 2.5 year high with oil production in Texas and Alberta already responding to this opportunity.
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