Study: Canada’s economy in 2007

The Daily, la publicación diaria de StatsCan, ofrece hoy a sus lectores un estudio sobre la economí­a canadiense en 2007.

Algunos puntos para destacar….

Real GDP growth of 2.7% in Canada was barely affected by the slowdown in the United States, where GDP growth eased from 2.9% in 2006 to 2.2% last year. This was the first year growth in Canada surpassed the United States since early this decade.

Canadian exporters were quick to shift away from the slumping US market; while exports to the United States fell 2% in each of the last two years, shipments overseas rose 13% in 2006 and 16% in 2007.

Manufacturing sales by industry in 2007 showed almost exactly the same pattern of increase or decrease as seen on balance since 2002. Clothing, forestry products and autos all continued to post large declines, while small drops were seen for printing, beverages and tobacco, rubber and plastic, and computers and electronics.

The growing wealth of Canadians was reflected in a 4.7% gain in the volume of consumer spending in 2007, its largest annual increase since 1985.

British Columbia, Quebec and New Brunswick all posted their lowest unemployment rates on record back to 1976, while Newfoundland and Labrador, Nova Scotia, Manitoba and Alberta were all within a whisker (0.2 percentage points or less) of their all-time lows.

Ontario posted the largest decrease in unemployment spells. While manufacturing job losses multiplied in Ontario, these workers evidently either found jobs in other industries or moved elsewhere to find work. This is in marked contrast with sharp increases in unemployment spells during previous slumps in Ontario’s manufacturing sector in the early 1980s and early 1990s.

Para ver la nota completa en The Daily, hacer click aquí­.

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