Two articles I read this morning show that things are looking up for Canadians as we move out of the recession, depression downturn….whatever you want to call it.
The first article talks about how Canada's economy will be ranked 5th out of 17 developed countries in 2010. This is an improvement from 11th 2 years ago. The main reasons: our stable banking system and how government funding has helped stimulate the economy. This is important only in the fact that it shows that other countries will harder hit by the economic crisis, so we must be doing something right. This does not mean that all of the information is positive, but it means that relative to everyone else we are doing quite well. The article states that Canada is "better placed to weather the recession than most countries" so take pride in that.
The second article shows that Canadian consumer confidence went up in July, meaning that more people are thinking positively about the economy, which generally leads to increased spending.
This is good news for a Friday if you are a Canadian….our economy is becoming more solid and our citizens are coming out from under the rocks they have been under for the past 12-18 months. Maybe the economy, just like our late summer weather, is starting to warm up.
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