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.
May 2025 PREVIEW:
Canada | Economic Warning Signs | Stable Growth Despite Challenges | Uncertain Outlook
Canada’s economy is on the verge of stalling out, with recent job losses, low consumer and business confidence, and a cooling housing market. While growth held up in the first quarter, uncertainty around trade policy, interest rates, and the newly elected minority government’s ability to act on fiscal stimulus will shape the outlook ahead.
United States | Tariff Risks Loom | Economic Data Remains Strong | No Recession Yet
The U.S. economy faces potential headwinds from tariffs, which could raise prices, weaken consumer spending, and pressure business investment and employment. However, current data remains resilient, retail sales are strong, investment indicators are steady, and job growth continues, suggesting that while risks are rising, a recession has not yet begun.
International | Oil Prices Drop | U.S. LNG Exports Set to Jump | Canada Beats U.S. on LNG to China
Tariffs have disrupted commodity markets and pressured crude oil prices, with WTI down 13% in a month and 27% year-over-year amid weaker global demand. In contrast, U.S. LNG exports are set to rise nearly 20% this year thanks to strong global demand and new facilities, though China continues to favour Canadian LNG due to shorter, cheaper shipping routes.
Excited to dive into the full May 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!
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