Worst Plunge in Canada’s GDP since 2009
This time, you can’t blame the dollar or oil prices.
By News on the Net --WolfStreet.com—— Bio and Archives--August 31, 2016
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In the second quarter, Canada’s economic activity, as measured by inflation-adjusted GDP, fell 0.4% from the first quarter, or 1.6% annualized, “the largest decline in quarterly GDP since the second quarter of 2009,” as Statistics Canada put it in its data release.
It was a brutal reversal of the first quarter, when GDP had jumped an upwardly revised 2.5% annualized. -- More...
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