[Tree] Canadian economy, US economy, economic performance, GDP growth, inflation, monetary policy, household strength, services, interest rates, housing market

Version 0.12 (2024-06-09 15:55:04.272000)

updates: Updates on Canadian housing market, real estate developer bailouts, and weak demand in key markets

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Version 0.11 (2024-06-03 18:53:56.644000)

updates: The Canadian economy is significantly underperforming the US economy, leading to the largest gap between the two countries on record, according to an analysis by RBC. The underperformance is attributed to the weakness of Canada's highly indebted households compared to the robust strength of American households. The gap between the Canadian and US economies is the widest on record, with Canadian per-capita real GDP falling significantly short of the US since 2019. This divergence is also reflected in the inflation gap, with Canada experiencing lower inflation compared to the US. The divergence in economic performance may require different monetary policy decisions in the near-term. The gap is primarily due to the divergence in services, as American consumers continue to spend on services while Canadian households struggle with supersized housing costs. The Bank of Canada may need to cut interest rates more substantially than the US to stimulate demand and stabilize low inflation. However, it is important to note that the current economic downturn is different from the pandemic-induced recession, and a real downturn may have different implications for the housing market.

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Version 0.1 (2024-05-18 20:55:16.379000)

updates: Information about the decline in Canadian standard of living

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Version 0.09 (2024-04-09 20:20:40.453000)

updates: New information on the slow pace of mortgage borrowing in Canada

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Version 0.08 (2024-03-31 15:22:17.844000)

updates: Updates on the Canadian mortgage leverage and productivity crisis

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Version 0.07 (2024-03-27 21:31:21.421000)

updates: Updates on foreign interference inquiry, population growth, renter-focused measures, international student permits, gold mining, and shrimp processing

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Version 0.06 (2024-03-24 15:21:43.323000)

updates: Information on Canada's mortgage market, immigration policy, credit card debt, life satisfaction, inflation, and real estate market

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Version 0.05 (2024-03-18 01:23:08.262000)

updates: Updates on Canadian housing market, wealth gap, and economic indicators

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Version 0.04 (2024-03-05 20:16:40.686000)

updates: RBC CEO Dave McKay states Canada's underperformance compared to the US

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Version 0.03 (2024-02-25 16:20:34.744000)

updates: Foreign investors fleeing Canada, mortgage fraud allegations at HSBC Canada

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Version 0.02 (2023-11-16 13:51:36.136000)

updates: Ontario home sales reaching lows since the Great Financial Crisis

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Version 0.01 (2023-11-09 13:25:08.998000)

updates: Added information about Wells Fargo's warning on the US economy and the home market

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Version 0.0 (2023-11-06 16:30:24.581000)

updates:

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