It can be useful sometimes to step back and take a wider look at the economic landscape to get a true picture of what is going on out there. With the daily headlines and election hype centered on things such as this week’s inflation numbers or mandatory versus voluntary vaccination, the broader view is often lost.
That’s why is can be helpful to draw some insights from folks like Dr. Peter Andersen. He is a Canadian economist teaching in the US who used to be a senior advisor at the Bank of Canada. He also provides monthly insights to TEC Canada, the country’s largest CEO and executive development organization.
In his latest report, he notes that the US is now back to full recovery after the pandemic. Canada is not far behind but he puts it in context this way: It took five years for the American economy to recover after the 2008 financial crisis. This time it took nine months. And North America is in a stronger place….in a business cycle that will last for years as the pandemic actually stimulated technology adoption which will accelerate overall growth.
