ANDERSEN ECONOMIC REPORT: MAY 2026 PREVIEW
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.
Excited to explore the full 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!
REPORT KEY INSIGHTS
United States
- The U.S. economy continues to show resilience, with steady payroll growth, historically low layoffs, and manufacturing returning to expansion after a prolonged slowdown. Underlying demand remains healthy and data points to growth rather than recession, though prolonged conflict or renewed fighting could weigh on GDP later in the year.
Canada
- Canada is heading into a weak 2026, with growth lagging the U.S. and several regions stalling or slipping. Private-sector job losses, strained consumers, and slowing business confidence continue to weigh on growth, hitting manufacturing, construction, retail, and youth employment hardest. Oil and gas provinces offer some buffer, but overall conditions remain fragile.
International
- Global commodity markets remain highly sensitive to Middle East developments, with oil prices set to swing sharply depending on whether the naval blockade continues. A peace agreement could lower oil prices and boost industrial demand, while prolonged conflict would raise recession concerns and drive up costs across energy, metals, fertilizers, shipping, and construction materials.
TEC MEMBERS ALSO GET
The TEC CEO Confidence Index is calculated from responses to a set of six questions about the current and future state of the U.S. economy, revenue and profitability projections and hiring and investment plans. Measured over time, the Index reflects trends in the U.S. economy and leads both GDP and changes to employment.
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