The Real Economy Canada: Spring 2024

Mar 14, 2024

A key for unlocking growth this year, RSM Canada’s Tu Nguyen writes, lies in the housing market where high mortgage rates could put added downward pressure on consumer demand if rates continue to stay elevated. 

Canada's financial conditions suggest slow growth ahead, with the Bank of Canada's higher interest rates restraining spending. Market indicators anticipate a potential return to growth later this year, contingent upon forthcoming monetary policy adjustments.

On the upside, the merger of Canadian Pacific and Kansas City Southern creates a transcontinental rail network, promising faster supply chains across North America. Despite political tensions, this US$31 billion merger underscores a push for greater economic integration, emphasizing efficiency and growth.

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The Real Economy blog

The Real Economy Blog was developed to provide timely economic insights about the middle market economy. It is offered as a complement to RSM’s macroeconomic thought leadership, including the quarterly The Real Economy Canada.

The voice of the middle market

Middle market organizations, which make up the “real economy,” are too big to be small and too small to be big. They have distinct challenges and opportunities around resources, labour, technology, innovation, regulation and more.