A snapshot of the Canadian economy for the last six months.
The Canadian Month at a Glance (August 2009)
The Canadian Month at a Glance (August 2009)
Canadian Economic Analysis
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- Employment declined by 45,000 in July, with losses in both full- and part-time work.
- May proved to be yet another difficult month for the Canadian economy, which was rattled by the effects of the Chrysler bankruptcy in Ontario.
- The goods producing industry, which saw growth retract by 1.6 per cent, was ostensibly the albatross around the nation’s neck in May.
- In stark contrast to conditions in the goods producing sector, output for Canada’s service industries held steady for a third consecutive month in May.
- The aftershock of the financial crisis was apparent in the meteoric rise in the number of Employment Insurance (EI) benefit claimants.
- While conditions in many areas of the national economy remain tenuous, several leading indicators indicate that recovery is now in sight.
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