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.
- On a year-to-date basis, the largest y/y increases in housing starts are in Quebec, Alberta and British Columbia. They all show y/y increases in excess of 40%.
- Solid job growth is providing an important boost to personal income and consumer confidence. Employment is only 246,000 below February 2020.
- Consumer sentiment has collapsed – lower than at any time since pandemic began.
- Expect the U.S. housing start recovery to continue for at least another 2 years. Housing starts are forecasted to increase to 1.7 million units in 2022, up from 1.6 million in 2021.
- The global exit from the pandemic will be stretched out and disorderly. This means continuing global supply chain disruptions, shipping delays, container shortages and high materials prices well past 2021.
- China will not be the powerhouse in commodity markets that many expected – restrictions on export shipments, tightened rules for property development financing and efforts to restrain steel production are driving this predication.
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