Today's Canadian Finance Notice

[imp]

This seen this morning, FWIW. imp

Canada is in recession
Canadian gross domestic product unexpectedly fell 0.2% in May. This was worse than the 0.0% expected by economists.

"The economy has contracted in six out of the last seven months," BNP's Derek Lindsay noted.

The resource-rich economy has felt the crushing pain of falling commodity prices as global demand for raw materials has decelerated.

http://finance.yahoo.com/news/canada-recession-125344868.html

 

[oldman]

Canada's economy has been in kind of a funk for sometime. Probably since oil has fallen and there is no reason to go after more oil with prices falling. But the economic news coming out of Canada isn't all bad. Their housing market seems to be holding and in fact, gaining momentum from what I have been reading. Consumers are still spending money and fixing up their existing homes, which also helps to spur growth. If the consumers stop spending, then that could be a real problem. The only issue I would be on the lookout for now is if deflation would raise its ugly head.

Someone posted here on SF that zero inflation is a good thing and here is proof that it isn't always such a wonderful thing to lean on.