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The Real Economy, Canada: Volume 9

April 16, 2021

Authored by RSM Canada LLP

Kirby W. Houle, CPA, CA shared this article

Archived Article Please note that this article is reflective of the relevant legislation, regulations, and information at the time of publishing and does not contemplate any changes that have occurred since that time.

Closing the output gap with help from our friends to the south


The RSM Financial Conditions Index (a composite of stress factors in Canada’s equity, bond, commodity and money markets), points to an economic revival in the near term as long as the pandemic can be contained among Canada’s major trading partners and global growth and infrastructure investment continues.

Also in this issue: How the pandemic has hurt the finances of municipalities, how digital forensics can preserve data and help receivers and lenders, transporting oil by railcar expected to increase through 2021, along with the big new deal in rail.

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Key takeaways from the The Real Economy, Canada - Q1, 2021

  • The $25 billion Canadian Pacific Railway deal and indirect gains from Biden administration’s COVID relief bill indicate further integration of both economies.
  • Canada’s economy expected to grow by 6.5 per cent in 2021, though slow vaccination rate limits full economic potential.
  • Labour market struggles, cash-strapped municipalities and a large GDP gap are some of the main obstacles the federal government must address.

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This article was written by Joe Brusuelas, Alex Kotsopoulos, Bryan A. Tannenbaum, Ryan  Duquette, Homan Chung and originally appeared on 2021-04-16 RSM Canada, and is available online at

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