Canada officially enters recession

Israel/Palestine issue? Brexit? Human Rights?
Post Reply
User avatar
Pete
Site Admin
Posts: 3316
Joined: Sat Mar 01, 2014 1:15 am
Location: Atlanta GA USA
x 293

Canada officially enters recession

Post by Pete » Wed Sep 02, 2015 1:10 pm

The Canadian economy has entered recession, official figures have shown.

Gross domestic product (GDP) fell by an annualised rate of 0.5% between April and June.

That follows a contraction of 0.8% in the first quarter, meaning the economy has seen two consecutive quarters of negative growth, the usual definition of recession.

The data will be a blow for prime minister Stephen Harper, who faces elections on 19 October.

The economy is expected to dominate the election debate.

The last time the country was in recession was during the financial crisis of 2008-09. As an oil exporting country, Canada has been hit by a fall in the price of the commodity.

US crude oil prices are currently trading at about $47 a barrel, less than half last year's level of $107 a barrel, pushed lower by a fall in global demand, particularly from China.

http://www.bbc.com/news/business-34116189


(meanwhile everything is peachy-keen here in the states!)
0 x
Nemo me impune lacessit

User avatar
nolaxride
Global Moderator
Posts: 10203
Joined: Tue Jul 01, 2014 8:09 pm
x 300

Post by nolaxride » Wed May 18, 2016 4:53 pm

That will last until oil is at, IIRC, the $65 level... at which point they'll be back, as will franking in this country... the ME has lost the war. They either keep the price of oil artificially low and bankrupt themselves (do NOT ask bewwie for a definition), or they allow the US to become the largest producer in the world.

I'd say the future is so bright, I've gotta wear shades.
0 x
— "It will be revealed in the coming months that he was in fact born in Kenya" - 17 Nov 2016zxx

User avatar
DallasDimeBags
Heir Presumptive
Posts: 2551
Joined: Sat Sep 06, 2014 10:25 am
x 219

Post by DallasDimeBags » Sat Oct 29, 2016 4:15 pm

Pete wrote:The Canadian economy has entered recession, official figures have shown.

Gross domestic product (GDP) fell by an annualised rate of 0.5% between April and June.

That follows a contraction of 0.8% in the first quarter, meaning the economy has seen two consecutive quarters of negative growth, the usual definition of recession.

The data will be a blow for prime minister Stephen Harper, who faces elections on 19 October.

The economy is expected to dominate the election debate.

The last time the country was in recession was during the financial crisis of 2008-09. As an oil exporting country, Canada has been hit by a fall in the price of the commodity.

US crude oil prices are currently trading at about $47 a barrel, less than half last year's level of $107 a barrel, pushed lower by a fall in global demand, particularly from China.

http://www.bbc.com/news/business-34116189


(meanwhile everything is peachy-keen here in the states!)

I sure hope that doesn't screw up my backup health care plan of moving to Canada.<G>
0 x

User avatar
brookboy123
Heir Apparent
Posts: 3927
Joined: Thu Sep 04, 2014 8:48 pm
x 200

Post by brookboy123 » Sat Oct 29, 2016 4:53 pm

America's economy is the envy of the civilized world.
0 x

Post Reply

Who is online

Users browsing this forum: No registered users and 1 guest