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Canada's Economy Set to Shine on World Stage: IMF



July 11, 2009 – Comments (2)

OTTAWA -- Canada's economy is set to outperform nearly all industrialized countries this year and next, the International Monetary Fund said Wednesday, leading analysts to declare the country does not need additional stimuli as advocated by certain world leaders at this week's Group of Eight summit.

The latest IMF outlook suggested the world economy is "beginning to pull out" of the deepest recession since the Second World War. The global economy will shrink 1.4% this year, it said, but growth of 2.5% is now expected in 2010, an improvement of just over a half-percentage point from its previous forecast in April.

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2 Comments – Post Your Own

#1) On July 11, 2009 at 10:34 AM, Dividends4ever (< 20) wrote:

Absolutely. Been investing there for over 24 months now.

Market is not completely manipulated like US market.

Great bargains.

 Just an opinion 

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#2) On July 11, 2009 at 12:08 PM, dibble905 (< 20) wrote:

I was actually under the impression that, with the large volume of mid to high end vehicles hitting the streets the past few years, Canada was actually in for quite the surprise -- but we seem to have held up well.

Up here in Toronto, the malls are and always have been packed on the weekends even during the gloom and doom. I've always wondered how the global recession and the even closer, US recession, would have affected all of this -- but at this point, consumer discretionary traffic does not seem to be suffering to the same tune of the neighbour down south. In fact, real estate in Toronto is down a staggering, enormous, almost out of this world... 3% YOY. Far worse out in BC, but it's still quite amazing given the mid double digit declines faced just south of us.

The citizens of Canada have long complained about the conservative nature of our banking industry - but that talk has all but disappeared over the past year. I'm sure it'll creep back up again during the next high time.

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