December 2025 - Andersen Brethour Report

This month’s key insights include:

✅ Canada’s private economy has flat-lined despite stable headline GDP

✅ Import collapse and “Buy Canadian” reshoring are masking weak demand

✅ The Bank of Canada is done cutting — fiscal policy must now do the heavy lifting

✅ Ownership housing is in depression while rental construction surges

✅ Early momentum in low-rise housing points to a 2026 reset and recovery