Canadian economy close to meeting potential: RBC economist
October 4, 2012
MISSISSAUGA, Ont. -- Dawn Desjardins, Assistant Chief Economist, at RBC, had a positive economic outlook to counter the economic doomsayers when she addressed the Supply Chain & Logistics Association Canada breakfast seminar this week at...
MISSISSAUGA, Ont. — Dawn Desjardins, Assistant Chief Economist, at RBC, had a positive economic outlook to counter the economic doomsayers when she addressed the Supply Chain & Logistics Association Canada breakfast seminar this week at the Mississauga Convention Centre
The unanticipated slowing of the economy experienced this year, as economic risk factors mounted in Asia, Europe and the US, will reverse, Desjardins said, and the Canadian economy will move closer to its potential rate.
“As some of these risks to the global economy dissipate, our economy is going very close to its potential rate. Levels of growth in Canada came from Canadian consumers.. In Canadian households, conditions were quite good,” she said adding, however, that households are running at higher debt levels.
We think that Canadian housing will pull back a little bit — there will be some deterioration in affordability levels,” said Desjardins.
Canada’s labour market does have some solid underpinnings, she added.
“We’re a little bit below full employment levels but when you look at the data the majority of jobs created were in the higher wage category.
In addition to Desjardins’ presentation, highlights of the session included an interactive Q&A period with expert panelists, moderated by Transportation Media Editorial Director Lou Smyrlis.
The event was also supported by FleetSmart, Natural Resources Canada’s program for fleets that looks at energy efficient practices that can reduce fuel consumption and emissions.
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