Saskatoon Mortgage Broker Shares Article on the Great Non-Recession

This is a recession in the 21st century

July 30, 2015

The past few weeks we’ve seen the dollar sink, the Bank of Canada’s rate drop to .50%, and not-so-great economic reports over the last two quarters have been released.  And with all this comes discussion that Canada is going through a (whisper) recession.

According to the definition of a recession — a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters – that’s what we’re experiencing. However, this seems to be a very different downturn than previous recessions.  And because the definition puts us squarely in one, it doesn’t mean that the country is slipping into serious economic trouble.

To read full article please click here.


No comments yet.

Add your Comment