Canadian recession is officially over.

[OntarioVanMan]

On Dec. 1 the federal statistics agency released third quarter gross domestic product (GDP) growth of 0.1 per cent — 0.4 per cent at the annualized rate — which effectively put an end to the recession.

The previous three quarters had all been declines. Though most analysts considered the third quarter GDP growth paltry, and the absolute minimum possible, it officially ended the national recession, since a recession is defined by at least two consecutive quarters of GDP decline.

Gauthier said Canada's fourth quarter GDP growth looks promising, given an analysis of the past three months' data.

 

[chefdennis]

Most economist agree that while the financial problems of the world are not over, Canada and most European and countries and even Japan and China while still not good, are making progress and improvement...while the US still grows worse on most fronts.....seems no other country is trying to "spend"
their way out of this situation, except the US.....And yes Canada is even expanding its ecomony, slowly, but it is expanding....as shown with the increase in employment mentioned in another thread....