While Europe continues its struggles with sovereign debt and the US continues along the road of uninspiring performance, Canada is facing a 2012 of limited growth and correction of the overvalued Canadian dollar, according to economist, Dr. Peter Andersen.
Just in time for the new year, Dr. Andersen’s monthly report outlines the expectation that commodity prices are likely to fall in the face of reduced demand from economically-challenged countries, that the increasing costs of labour in Canada will lead employers to look to the US instead, and that slow growth will likely become the norm until at least mid-decade.
One way to keep on top of the changes in commodity prices is through Export Development Canada’s monthly ‘Commodity Analyst’ report. The latest report notes that oil prices do tend to respond to the environment in the Middle East more so than to the overall global economic environment, so this is one commodity for which prices may move differently from the majority.
While this is not necessarily optimistic news on which to start the new year, it does means that you can kick off 2012 well-informed and prepared for success.
TEC Canada members receive Dr. Andersen’s Economic Report via email every month.