Vol. 9. No. 1 July 2021
The recovery from the 2020 COVID recession continues apace with inflationary pressures mounting. Record high household savings, together with generous fiscal stimulus that has overcompensated households for income lost from unemployment and business closures, are fueling a resurgence in consumer demand that is outpacing supply for many good and services.
In Canada, as in the U.S., this phenomenon was first witnessed during the second half of last year as robust post‐lockdown housing demand and renovation spending led to record high lumber prices. Lumber supply was unable to quickly respond to strong demand as sawmills were slow to get back online.
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About The Outlook
Co-branded by CIPH and HRAI for the benefit of our respective members, The Outlook is an economic review produced in conjunction with Altus Economics that provides members with timely economic insights, housing market data, commentary and analysis of trends in non-residential and infrastructure investment by region in Canada.