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.
- The semiconductor chip shortages are not going away anytime soon – they may continue into 2023. This is largely driven by low vaccination rates in Asia and the threat of a global COVID wave.
- People are increasingly buying second homes as investment properties, in the expectation of a capital gain. In some markets (Montreal, Hamilton, the GTA and Ottawa) expectations of even higher future prices are creating both fears of missing out on the part of legitimate buyers and also the possibility of capital gains for house flippers.
- Inflation will be longer lasting and core CPI inflation is now the highest since 1991.
- Due to the shortage of workers, production will continue to be disrupted and shortages of supplies and goods is becoming a reality. A shortage economy means continuing upward pressure on prices – initially prices were isolated, now they are widespread.
- Heightened geopolitical risk between Russia and Ukraine is major cause for concern in Europe. Though military force is highly unlikely, Europe’s dependence on Russia for natural gas is driving worries.
- Oil and copper prices will likely continue to decline throughout December. If COVID worries diminish by the summer, we will likely see commodity prices moving higher up again.
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