TEC Canada is pleased to provide the Anderson 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.
- The Bank of Canada’s next move could be an interest rate cut if the incoming economic data in May, June and July point to a prolonged slump.
- Canada’s services sector (business software, tourism and hospitality) remains very strong; this reflects both domestic and export services demand.
- Home sales and housing prices are one way of measuring regional economic conditions: Calgary, Edmonton, Regina and Saskatoon show large y/y declines in resale house prices and the Vancouver housing market is very weak.
- 1st quarter growth this year is much better than any of the 1st quarter growth rates experiences over the previous 3 years.
- Business investment will be stronger than expected as a result of previous tax and regulatory changes; and the energy sector will provide momentum to business investment.
- Consumer confidence has rebounded; wage and salary gains are improving while inflations remains stable.
- Market sentiment for commodities has improved as a result of the latest news for the U.S. economy, which shows a continuing strong expansion.