Weekly News Watch 23
- Saturday, December 5, 2009, 9:34
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With the week at an end, we find ourselves with only 20 days before Christmas.
Reflecting on the week, we see the recession is officially over as Canada’s real Gross Domestic Product (GDP) grew 0.1% in the third quarter, making this the first quarterly gain since the third quarter of 2008, and a signal that the recession has finally ended.
Statistics Canada reports that the economy expanded at an annualized rate of 0.4% in the third quarter, while the U.S. economy expanded by 2.8%.
Finance Minister Jim Flaherty noted on Tuesday that Canada’s economic growth rate should be a bit better for the remainder of 2009 and in 2010 after a moderate performance in the third quarter.
Scotiabank’s recent forecast has the Canadian stock market and the dollar will rise in 2010 as the economy struggles along the path from recession to recovery.
We saw five out of Canada’s biggest banks quarterly reports come out this week, with all showing good gains. The last of the Big Six to come out is Scotiabank, and that is expected to come out on Tuesday, December 8th, 2009.
I will leave on that note, and hope you enjoy shopping for your family and loved ones.
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Sensei has written 1086 stories on this site.
My favorite weapon of choice is the samurai sword. I use it to cut my chicken during dinner, cut my hair and periodically carve my name into stone when I am bored. I love meditating on top of a 15ft high pole and eating those sushi’s with smoked salmon on top.
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