Tuesday, April 1, 2008

Canadian Economy Makes a Recovery

According to Statistics Canada, Canada's GDP grew 0.6 percent in January which almost makes up for the 0.7 percent loss we experienced in December. This seems unexpected since our largest trade partner, the United States, may already be in a recession. Even more strange, the reason for this growth is because of a small boom in the manuafacuring sector which exports most of its good to the US.

Other areas such as the financial and agricultural sectors helped this growth, but the mining and forestry sectors hampered it because of their decline. Unfortunately, this was only January. Things may not have been so well in the last couple months thanks to the crumbling US economy.

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