CANADIAN IMMIGRATION NEWS

Canadian Economy will Continue to be Stronger than most

Friday, 18 September 2009

A report from CIBC World Markets expects to see Canada's economy outperform others in the developed world.

The growth is expected to be limited until 2011 when it is forecasted that the economy will reach its full speed once again. This can be attributed to the increase in stimulus spending of $40billion.

The report continues to say that Canada’s performance in the recession, as Canada was not hit as hard as most other countries in the world, is due to the resilience of the housing market as well as the strength in the banking system.

Earlier in the week the Bank of Canada and the Organization for Economic Co-operation and Development both declared that they have seen signs of recovery in the Canadian economy as well as in other economies around the world. CIBC expects Canada’s economy to grow at a rate of two percent in 2010, which is stronger than the expected growth rate of the U.S Economy and those in the “Euro Zone” as well.

CIBC chief economist Avery Shenfeld has stressed that the injection of stimulus dollars into the world's economies have had a lot to do with this forecasted turn around and subsequent growth.

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