Bank of Canada – Recent Economic Developements by Mark Carney

Here are some eye opening facts about our economy;

Financial markets appear paralysed. You shouldn’t be. These events are like the waves on the sea. The underlying currents—those forces that affect the long-term outlook for our businesses and economy—are much stronger. Today, the charts reveal three major currents: Canadian firms are underexposed to the fastest growing parts of the global economy; commodity prices can be expected to remain elevated relative to historic averages; and our firms are not as productive as they could or need to be.

“As the boomer generation ages, labour force participation rates will decline and hours worked will fall. The direction is clear. The question is merely one of degree.
If we do not develop new markets and if we do not improve productivity, the cumulative loss of income from slower potential growth could be almost $30,000 for every Canadian over the next decade.” -Mark Carney   Read more here;

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