out of recession in recent months, and this strong performance, coupled with promising signs from other areas such as real estate and energy, suggests that better days are ahead for the economy,” RSM Canada’s projects and economics partner Alex Kotsopoulos said in a statement.
Yet, the report noted that the deepening trade tensions with the United States could however stifle the ongoing strong growth, as Buy American provisions in the neighbouring country continues to present several challenges to Canadian manufactured products.
“There’s still plenty of work to be done on the trade front,” Kotsopoulos noted. “Canada’s over-reliance on the U.S. leaves it vulnerable to any trade frictions that happen between the two nations, and we’re seeing that effect now as the Biden administration continues to focus first and foremost on rebuilding the U.S. economy.”
Looking at other sectors which made a significant contribution to the economic growth in the North American nation, the RSM Canada report noted that…
