Canada's great recession wasn't that bad after all: Statistics Canada recession, Statistics, wasn, Canada, bad

Lik

http://www.news1130.com/news/nat ... l-statistics-canada

Canada's great recession wasn't that bad after all: Statistics Canada
THE CANADIAN PRESS  Apr 15, 2010 12:06:27 PM

OTTAWA - It's been called the Great Recession by many around the globe.
But Statistics Canada says the economic meltdown that devastated the economies of dozens of countries large and small in 2008 and 2009 left Canada relatively unscathed.

According to the federal agency, Canada did suffer through a technical recession - a 3.3 per cent drop in gross domestic product over three quarters between the fall of 2008 and the summer of 2009.

But that was shorter and milder than Canada's previous two recessions. For example, the 1981-82 slump saw GDP fall 4.9 per cent over six quarters, while the 1991-92 downturn resulted in a 3.4 per cent fall-off in output over four quarters.

Recessions are mostly felt by those who lose their jobs, and on this measure the latest downturn was especially mild.

Statistics Canada says employment fell just 1.8 per cent in the recent recession, compared with 3.2 per cent in 1991-92 and five per cent in 1981-82.

Lik

OMG~ I thought our great seer Peter has repeatedly told us that the Canadian government was hard hit by the Recession and on the brink of bankruptcy?!

You moron~!

-Lik

快樂牛郎

Recessions are great.

MAXIMUS

回復 2# Lik

So did you lose expected income?

peter236

OMG~ I thought our great seer Peter has repeatedly told us that the Canadian government was hard hit ...
Lik 發表於 2010-4-15 08:44

The debt at all levels of government is still big. But thanks to the surging growth of countries like China, the higher commodity prices benefit Canada's export of natural resources.

peter236

haha your comments are wrong because I know the export is not doing well in Canada neither.  China ...
mukmuk2 發表於 2010-4-15 10:47

LOL, just ask any economic experts and they will tell you high natural resource prices benefit Canada, and natural resource prices is being driven by countries like China etc.

peter236

haha trust me; the importing and exporting are not that good at this moment.  China buys the natur ...
mukmuk2 發表於 2010-4-15 11:55

hahaha, you know nothing about importing and exporting. The natural resource prices are international, like oil prices. Whether China buys directly from Canada is irrelevant.