Canada Country Report Update

G20: Why we all want to be Canadian now

Friday, 25 June 2010 08:40 UK

By Caroline Hepker

BBC World Business Report, Ottawa

Canada managed to avoid the banking collapses suffered elsewhere.

Even on a rainy weekday at Ottawa’s By Ward market, Canadian shoppers are cheery. As Americans and Europeans face deficits and drastic government cuts, Canada’s economy is recovering from only a mild recession.

Sheltering near the maple syrup stall, local restaurant promoter Melissa Grecco says Canada escaped the fate of the US.

“We felt the effects on corporate bookings, companies not spending money on staff or …more

By Alex Boutilier, Metro Halifax

Source: Metro Halifax, June 22, 2010

[HALIFAX, NS] – Housing sales in HRM spiked this spring according to numbers released yesterday by the Nova Scotia Association of Realtors.

During the period between March and May, 1,925 single-family residential homes were sold in Halifax and Dartmouth – a 16.9 per cent increase over the same period last year.

According to NSAR president Karen Edwards, the increase in sales reflects increased consumer confidence that the global recession may finally be receding.

“People are becoming much more comfortable after …more

By ROB GILLIES (Associated Press) – 21st June 2010

TORONTO – Canada thinks it can teach the world a thing or two about dodging financial meltdowns.

The 20 world leaders at an economic summit in Toronto next weekend will find themselves in a country that has avoided a banking crisis where others have floundered, and whose economy grew at a 6.1 percent annual rate in the first three months of this year. The housing market is hot and three-quarters of the 400,000 jobs lost during the recession have been recovered.

World …more

www.tumblerridgenews.com

Wednesday June 16, 2010

It’s only natural that we remain cautiously optimistic about any signs of economic recovery. The impact of the global economic recession is still fresh. Yet, it’s equally important to recognize the gains we do experience to give us the confidence we need to fuel even further growth.

And so last week Canadians embraced the Statistics Canada report that 24,700 new jobs were created in May, the fifth straight month of job gains. Canada’s unemployment rate is now 8.1%. Since July of last year Canada has created almost …more

By Neil Haesler, Financial Post June 10, 2010

Canada’s economy is expected to surge in 2010, according to a new report from RBC Economics, which predicts gross domestic product growth of 3.6 per cent as a result of strong demand and increased job creation.

RBC says Canada’s real GDP grew at 6.1 per cent in the first quarter, the fastest pace in a decade.

“Canada’s economy continued to surge ahead as domestic demand was backed by increases in consumer, housing and government spending,” said Craig Wright, senior vice-president …more

June 4, 2010 | 11:12

by Sharon Singleton | Money

Canadian employers hired more workers than they fired for the fifth straight month in May, while south of the border a look behind the headline figures revealed an economy still struggling to boost employment, economists said.

The Canadian economy added 25,000 jobs in May, topping economists’ forecasts for a gain of about 15,000, Statistics Canada said Friday.

The May gains follow a record-setting month in April. The private sector accounted for the bulk of the hiring taking on 43,400 workers …more

The StarPhoenix June 8, 2010

To all appearances, Great Britain seems to be bracing itself to take centre stage in a South Park episode of “Blame Canada.”

Prime Minister David Cameron warned Britain on Monday that it was about to embark on an unprecedented round of cuts that will impact on everyone’s “whole way of life.” While the fault of the crisis lies with the previous Labour government, he said, the solution can be found in Canada.

Although he leads a Conservative party, Mr. Cameron made it clear that his …more

1 Jun 2010, 1337 hrs IST,IANS

TORONTO: Posting the highest growth rate in more than a decade in annualised terms, Canada’s economy grew 6.1 percent in the first quarter of the current fiscal year.

With the highest growth among G8 countries, the Canadian economy has now almost reached levels seen before the global meltdown hit it in 2008.

In fact, the current rate makes the Canadian economic growth twice that of the US.

The swift economic recovery was fuelled by growth in all sectors, including housing, manufacturing, exports and household incomes …more

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