Economy in Canada

1177 Words Jan 9th, 2012 5 Pages
In 2008 when the global economy took a turn for the worst Canada managed to come out on top. This is thanks to the export of natural resources and commodities. The Canadian government immediately took charge and start making budget cuts in order to have a full recovery by 2015. (D.R., 2011) Canada has a large threat in its path; its dependence on the outside world.
Canada fared much better than was expected while other countries throughout the world declined and fell into a recession. There are nine specific key indicators that are important to consider when talking about Canadian economy. These are employment, unemployment, composite leading index, housing starts, consumer price index, real gross domestic product, retail sales
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(Foreign Affairs and International Trade Canada, 2011) The USA is projected to stay number one for the next 40 years. This poses a large threat for Canada if exports dropped to the US, however, they are not predicting any drop any time soon.

Global Economy
The global GDP is expected to grow 3.2% in 2011. The financial crisis is no longer setting the pace for developing countries. (The World Bank Group, 2011) Developing countries are close to having regained full-capacity levels. The global crisis is slowly coming to an end. (The World Bank Group, 2011)There are many factors still playing a role in countries such as Japan with the tsunami. (The World Bank Group, 2011) However, it appears the global economy is on a upward slope.

References
Contenta, S. (2010, August 4). Global Post. Retrieved December 12, 2011, from Canada Land of New Jobs?: http://www.globalpost.com/dispatch/canada/100726/jobs-unemployment-economy
D.R. (2011, August 10). The Economist. Retrieved December 12, 2011, from Canadaès Economy: Still Safe and Sound?: http://www.economist.com/blogs/americasview/2011/08/canadas-economy
Foreign Affairs and International Trade Canada. (2011, September 9). Foreign Affairs and International Trade Canada. Retrieved December 14, 2011, from Canada's State of Trade: Trade and Investment Update 2011:
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