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Canadian economy grows again, pointing to stronger second half

Posted by Eric Anderson Sep 30, 2015

The Globe and Mail

The Canadian economy posted its second straight month of impressive growth in July, strengthening the case that the country’s economic fortunes have turned a corner following a trying first half of the year.

Statistics Canada reported that Canada’s real gross domestic product grew by 0.3 per cent month-over-month in July, building on the 0.4-per-cent growth posted in June. The two-month upturn marks a sharp reversal from the first five months of the year, when the economy contracted each month, bogged down by the impact of the oil shock and an unusually harsh winter. After a cumulative GDP decline of 0.9 per cent over the first five months of 2015, the economy has now rebounded by nearly 0.8 per cent over the past two months of data.


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Posted in Farm related news | Tagged with GDP Canadian economy economic reports | More articles by Eric Anderson


Canada had weak first 4 months but not in a recession

Posted by Eric Anderson Jul 28, 2015

Canada isn’t in a recession.  That’s the conclusion of the country’s unofficial arbiter of recessions, the C.D. Howe Institute’s Business Cycle Council, made up of 12 prominent economists.  After meeting last week, the council determined that “data did not provide evidence that Canada had entered an economic downturn,” according to a statement being released Tuesday by the C.D. Howe Institute, an independent think tank based in Toronto.  The council, made up of current and former bank chief economists as well as academics, said it based its assessment on a review of recent data on gross domestic product, employment and “sectoral activity.”

“The council noted weak GDP data in the first four months of 2015, primarily associated with low oil prices and falling investment in the energy and some other resource sectors,” according to the statement.  At the same time, it highlighted “resilience” in labour markets, including positive job growth and a steady employment rate.

 

The full story is at:

Canada had weak first 4 months but not in a recession, economists say

BARRIE McKENNA

OTTAWA — The Globe and Mail

Published Tuesday, Jul. 28, 2015 12:00AM EDT

Last updated Tuesday, Jul. 28, 2015 10:02AM EDT

 


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Posted in Farm related news | Tagged with economy recession Canada | More articles by Eric Anderson