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”…

(Source: Kelowna.com)

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).

Developments featured in this article

More Like This

Facebook Chatter