August 31, 2009
Statistics Canada revealed that the Canadian G.D.P. grew in June by .1 %, the first albeit anemic growth since the recession began last year in August. The oil and gas , extraction industries and real estate as well as the service sector and the retail trade were positive contributors but the goods producing sector continued to shrink.While the second quarter still showed negative growth of minus 0.9 % it is quite likely that this positive growth will continue for July and August suggesting that the formal recession has ended. However, because the Canadian stimulus is per capita considerably smaller than the American one it is probably prudent to await further data before proclaiming the end of the recession.
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