TEC Canada is pleased to provide the Andersen Monthly Economic Report exclusively to our members to offer professional updates on the current economic environment in Canada, the USA, and globally. As 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.
April 2025 PREVIEW:
Canada | Exports Surge Pre-Tariffs | Q3 Slowdown Looms | Dollar Weakens Further
Canada’s early 2025 growth was fueled by a surge in manufacturing and exports ahead of anticipated U.S. tariffs, but that momentum is now set to reverse. With key industries being exposed and new trade measures looming, a Q3 GDP decline is expected. Policy responses may help stabilize conditions by year-end, as the Canadian dollar faces further downside, potentially reaching US$0.62.
United States | Manufacturing Gains Momentum | Capacity Hits Pre-COVID High | Business Confidence Rebounds
U.S. manufacturing has gained momentum in early 2025, with output, employment, and new orders all trending upward. Capacity utilization has climbed to 77%, returning to pre-COVID levels, and business investment indicators are strengthening. While consumer sentiment remains cautious, manufacturers and purchasing managers are showing renewed optimism not seen since 2022.
International | Metals Resist Tariff Impact | Copper, Lumber Climb | Commodities Remain Stable
Despite the 25% tariffs imposed in February, steel and aluminum prices remain below 2023 levels. Copper reached a record high amid stockpiling, and lumber saw strong gains driven by housing demand. With OPEC+ set to gradually increase oil production starting in April, the overall commodity landscape appears mixed but not broadly inflationary.
Excited to dive into the full April 2025 Andersen Economic Report? As a valued member of TEC Canada, you can access the complete report under the ‘Resources’ section of the TEC Canada App!
"*" indicates required fields
