Immigration.ca - Canada Immigration News - September 2009
The latest report from the Bank of Canada exhibits cautious optimism about the country’s economic recovery as 2009 comes to an end.
Though their July report did foresee growth for Canada’s third and fourth quarters, the Bank has expanded their predictions, saying recovery could occur faster than expected.
“Stimulative monetary and fiscal policies, improved financial conditions, firmer commodity prices, and a rebound in business and consumer confidence are supporting domestic demand growth in Canada,” said the report. “Combined with recent information on inventory adjustments and automotive production, this suggests GDP growth in the second half of 2009 could be stronger than the bank projected in July.”
Not all the experts concede, however. Just last week, a report from the Organization for Economic Co-operation and Development predicted Canada would lag behind all other major industrialized countries, with negative growth this quarter.
However, the statistics do point toward growth – meager as it may be, 0.1 per cent growth in June is still the first month of growth since July 2008. Last month, job creation was back to positive figures, with 27,100 new jobs added.
Source: Financial Post
