XPost: can.general, can.politics, soc.culture.canada   
   From: abc@123.cl   
      
   Canada seen moving up in economic rankings   
      
      
   August 17, 2009   
      
      
   TORONTO - Canada is expected to move up in global economic rankings in   
   2009 and 2010 as the recession lingers in other countries, buoyed by a   
   stable bank sector and lower unemployment, a study showed on Thursday.   
      
   After ranking 11th of 17 developed countries in the Conference Board of   
   Canada's 2008 report card, Canada is expected to vault to 5th place in   
   2010, based on economic forecasts by the Organization for Economic Co-   
   operation and Development (OECD), the Conference Board said.   
      
   Using the OECD's forecasts for growth, unemployment and other economic   
   factors over the next two years, the board found Canada was poised to   
   come out of the global recession ahead of many peers, pushing it up the   
   rankings for international economic performance.   
      
   Belgium and the United States were also expected to move up, while   
   Britain, the Netherlands and Switzerland are expected to fall, it said.   
      
   "Canada is expected to weather the global recession better than most of   
   its peers, which is a credit to its stable financial sector and a   
   relatively healthier economic position upon entering the downturn,"   
   said Conference Board Chief Economist Glen Hodgson.   
      
   Despite substantial movement among the 17 countries, the top and bottom   
   positions are not expected to change between 2008 and 2010. Norway is   
   expected to retain first place in both 2009 and 2010, buoyed by its   
   resilient economy and large petroleum sector. Ireland is forecast to   
   remain in 17th place both years.   
      
   A separate report issued on Thursday showed a growing number of   
   Canadians are upbeat about the prospects for the national economy and   
   employment situation in six months.   
      
   The TNS Canadian Facts' Consumer Confidence Index rose to 99.2 in   
   August, up six percentage points from July's 93.4 reading.   
      
   "Bank of Canada Governor Mark Carney declared last month that the   
   recession is over. While unemployed Canadians may not agree with this   
   assessment, the fact is consumer confidence has been trending upward   
   since it fell to an all-time low last December," said Michael Antecol,   
   director of the marketing research company's monthly tracking study.   
      
   "Canadians are increasingly optimistic. Their battered investment   
   portfolios have recovered somewhat since last fall, housing prices are   
   up in several markets, and the key lending rate is at historic lows,"   
   he added.   
      
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