Recent economic reporting in the mass media has been focusing strongly on the ‘fiscal cliff’ faced by the US early in 2013: including dramatic cuts to the US federal budget (known as ‘sequestrations’) intended to reduce the government deficit; reaching the government debt ceiling – the limit to which the government can ‘borrow’, and lack of ‘ready money’ to meet day-to-day obligations of the government. Altogether, the media flags a situation with some potentially disastrous outcomes for the US and, by association, the Canadian economy.
This month’s Peter Andersen Report discusses these issues with a touch less sensationalism, anticipating a smaller overall impact on US and global economic performance over the remainder of 2013 and following years. While Dr Andersen anticipates Canada’s economic growth to lag behind the US for the next couple of years, in contrast to all developed economies (including the US), Canada has already regained pre-recession levels for both employment and overall economic activity, so this setback will simply bring us back into line with original growth estimates.
While it’s true that Canada can’t do anything to affect what may happen in the US, one of the core reasons we provide you with resources such as the Peter Andersen Monthly Economic Report is so that you can be informed about the external pressures manifesting outside your control, identify shortcomings and risk factors, and set up your business to succeed.
In addition to the Andersen Report, you might find it useful to revisit the economic forecast webinar delivered by Brian Beaulieu in November last year, and take a look at some of the resources available on Vistage Village, such as ‘Staying on Top: Managing in an Uncertain Economy’.
- The Peter Andersen Economic report and the 2013 Economic Outlook webinar with Brian Beaulieu have been provided to members via email.
- Peter Andersen Monthly Economic Report – November 2012 – Summary
- Peter Andersen Monthly Economic Report – December 2012 – Summary
- Staying on Top: Managing in an Uncertain Economy (TEC/Vistage members only)