XPost: can.general, can.politics, soc.culture.canada   
   From: gregpcarr@yahoo.ca   
      
   On Mon, 17 Aug 2009 07:34:20 -0700, abc  wrote:   
      
   >   
   >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.   
   Hopefully this will lead to an increase in employment.   
      
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