🚀 go-pugleaf

On Mon, 17 Aug 2009 07:34:20 -0700, abc <abc@123.cl> wrote:

>
>Canada seen moving up in economic rankings
> 
> 
>August 17, 2009
> 
>
>TORONTO - Canada is expected to move up in global economic rankings in 
>2009 and 2010 as the recession lingers in other countries, buoyed by a 
>stable bank sector and lower unemployment, a study showed on Thursday.
>
>After ranking 11th of 17 developed countries in the Conference Board of 
>Canada's 2008 report card, Canada is expected to vault to 5th place in 
>2010, based on economic forecasts by the Organization for Economic Co-
>operation and Development (OECD), the Conference Board said.
>
>Using the OECD's forecasts for growth, unemployment and other economic 
>factors over the next two years, the board found Canada was poised to 
>come out of the global recession ahead of many peers, pushing it up the 
>rankings for international economic performance.
>
>Belgium and the United States were also expected to move up, while 
>Britain, the Netherlands and Switzerland are expected to fall, it said.
>
>"Canada is expected to weather the global recession better than most of 
>its peers, which is a credit to its stable financial sector and a 
>relatively healthier economic position upon entering the downturn," 
>said Conference Board Chief Economist Glen Hodgson.
>
>Despite substantial movement among the 17 countries, the top and bottom 
>positions are not expected to change between 2008 and 2010. Norway is 
>expected to retain first place in both 2009 and 2010, buoyed by its 
>resilient economy and large petroleum sector. Ireland is forecast to 
>remain in 17th place both years.
>
>A separate report issued on Thursday showed a growing number of 
>Canadians are upbeat about the prospects for the national economy and 
>employment situation in six months.
>
>The TNS Canadian Facts' Consumer Confidence Index rose to 99.2 in 
>August, up six percentage points from July's 93.4 reading.
>
>"Bank of Canada Governor Mark Carney declared last month that the 
>recession is over. While unemployed Canadians may not agree with this 
>assessment, the fact is consumer confidence has been trending upward 
>since it fell to an all-time low last December," said Michael Antecol, 
>director of the marketing research company's monthly tracking study.
>
>"Canadians are increasingly optimistic. Their battered investment 
>portfolios have recovered somewhat since last fall, housing prices are 
>up in several markets, and the key lending rate is at historic lows," 
>he added.
Hopefully this will lead to an increase in employment.