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Business
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Title: Canada's Economy Grows At Fastest Pace Since 2000
Source: BBC
URL Source: http://news.bbc.co.uk/2/hi/business/8543650.stm
Published: Mar 1, 2010
Author: BBC
Post Date: 2010-03-01 12:25:40 by Brian S
Keywords: None
Views: 1501
Comments: 16

Canada's economy grew in the final three months of 2009 by the fastest pace in nine years, official figures have shown.

The economy expanded by 5% on an annualised basis during the quarter, after growing at a rate of 0.9% in the previous three months.

The data was boosted by rising consumption, government spending and property investments.

Canada's economy has rebounded strongly like its neighbour, the US.

The US economy grew at an annualised rate of 5.9% in the last three months of 2009, the Commerce Department said last week, revised higher from the first estimate of 5.7%.

Canada's growth was the more than economists had predicted, and faster than the 3.3% that its central bank had expected.

It was the fastest growth rate since the third quarter of 2000.

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Begin Trace Mode for Comment # 8.

#1. To: Brian S (#0)

I wonder how much was related to the pending Olympics?

Badeye  posted on  2010-03-01   12:39:19 ET  Reply   Untrace   Trace   Private Reply  


#3. To: Badeye (#1)

I wonder how much was related to the pending Olympics?

Or the fact that they maintained the banking regulations that we repealed in 1999?

go65  posted on  2010-03-01   12:57:01 ET  Reply   Untrace   Trace   Private Reply  


#4. To: go65 (#3)

(chuckle)

Badeye  posted on  2010-03-01   12:59:55 ET  Reply   Untrace   Trace   Private Reply  


#5. To: Badeye (#4)

If it only it were amusing. Canada has had the soundest banking system in the world several years due to a much stricter regulatory authority than we have here in the U.S.

See the below from late 2008: www.reuters.com/article/idUSTRE4981X220081009

CANBERRA (Reuters) - Canada has the world's soundest banking system, closely followed by Sweden, Luxembourg and Australia, a survey by the World Economic Forum has found as financial crisis and bank failures shake world markets.

But Britain, which once ranked in the top five, has slipped to 44th place behind El Salvador and Peru, after a 50 billion pound ($86.5 billion) pledge this week by the government to bolster bank balance sheets.

The United States, where some of Wall Street's biggest financial names have collapsed in recent weeks, rated only 40, just behind Germany at 39, and smaller states such as Barbados, Estonia and even Namibia, in southern Africa.

go65  posted on  2010-03-01   13:02:32 ET  Reply   Untrace   Trace   Private Reply  


#6. To: go65 (#5)

do you have anything on topic?

Badeye  posted on  2010-03-01   14:01:21 ET  Reply   Untrace   Trace   Private Reply  


#7. To: Badeye (#6)

do you have anything on topic?

Sorry, thought the topic was Canada's economy. I must be wrong, sorry.

go65  posted on  2010-03-01   16:11:08 ET  Reply   Untrace   Trace   Private Reply  


#8. To: go65 (#7)

Sorry, thought the topic was Canada's economy. I must be wrong, sorry.

(laughing)

war  posted on  2010-03-01   16:12:14 ET  Reply   Untrace   Trace   Private Reply  


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