TD Securities Economist says, “Red-hot real estate market helped support the economy by stimulating residential investment, related to a significant bounce-back in housing start”…
On Monday, we learn whether Canada did, in fact, emerge from recession in the third quarter.
It’s expected that Canada’s economy did indeed go from shrinking to growing during the summer quarter. A few days after that expected confirmation comes, we’ll get a sense of how much real people have benefited from the recovery when November job numbers are released on Friday.
To kick the week off, Statistics Canada will provide third-quarter data on gross domestic product, and economists are forecasting, on average, annualized growth of one per cent after a 3.4 per cent contraction in the second quarter. The Canadian economy had been shrinking for three straight quarters up until that point, which is one more than needed to be considered a recession.
Read the full article, “End of Canadian recession expected to be confirmed Monday” at Kelowna.com (Nov 28 2009).