Every now and then it is interesting to get a ‘big picture’ view of how the marketplace is performing. Are we headed up or down and how does that match up with other parts of the world?
One source that provides such an insight is Peter Andersen. He’s a former Bank of Canada economist who headed to Texas to teach but keeps close tabs on Canada and writes regular updates for CEOs who belong to TEC Canada, the nation’s largest executive development program.
In his latest report he’s predicting the price of oil will show some strength because China’s economy is doing better than expected which will result in global demand improvement. That will translate into some positive momentum for us. Add to that the possibility of Keystone XL getting approved later this month.
That should put Canada in first spot this year and second place next year among the G7 countries in economic growth but will also strengthen the Canadian dollar. The only downside is worries about potential corrections in housing markets in Toronto, Vancouver, Victoria and Hamilton.