Economic Insights.

Dr. Cooper is Dominion Lending Centre's Chief Economist who helps Canadians understand the issues surrounding their most important financial decision – buying a home.

Fiscal Snapshot: Much Larger Deficit and Debt than Expected

July 8, 2020

Astonishing Fiscal Red Ink Announced Today Finance Minister Bill Morneau presented his fiscal snapshot this afternoon. Most economists were expecting a budget deficit of roughly $260 billion. Instead, the government announced a deficit for the fiscal year 2020-21 of $343.2 billion–close to 16% of GDP. That compares to the $34.4 billion deficit projected before the pandemic. A big chunk of […]

Bank of Canada Business Sentiment Lowest Since 2009

July 6, 2020

Canadian Business Sentiment Is Negative The Bank of Canada released its Summer Business Outlook Survey (BOS)* this morning, covering an interview period from mid-May to early June. In all provinces and all sectors, the sentiment was hugely negative owing to the impact of the pandemic and falling oil prices. Since the previous survey, conducted before concerns about COVID-19 has intensified, but as […]