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 housing markets are highly vulnerable to a downturn in sales and prices. Homebuilders will face much different business conditions in 2022 once they have caught up with the backlog of work in progress.
  • The Bank of Canada is estimating that because of ongoing supply shortages, Canada will be at its effective capacity limit by midd-2022. This means an earlier date for interest rate tightening.


  • The economy is being held back by supply shortages and the negative reaction to big price increases. The U.S. experienced the slowest growth – 2.0% – since the recession ended last year.
  • Spending on durable consumer goods has collapsed. This is mainly reflected in a massive decline in expenditure on motor vehicles, however other durable goods such as furnishings and recreational goods also showed large quarterly declines.


  • High global debt, high inflation, diminished policy support and stock market vulnerability could cause investors to put a higher priority on liquidity and the preservation of capital. This would tighten global credit conditions and lead to problems for emerging market economies.
  • The energy crunch and China’s emission limitations have caused lower production and higher prices for aluminum and other base metals. They have also caused a drop in steel production and iron ore prices.

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To help ease the strain COVID-19 is placing on Canadian Businesses, TEC Canada has compiled insights from global experts to support business leaders as they navigate the challenges and opportunities presented. If you would like to receive similar information more regularly, please click here.