GDP Declines across Canada in 2009

GDP Declines across Canada in 2009

Canada's  GDP declined by 2.9 per cent nationally in 2009 after an increase of 0.6 per cent in 2008 according to a Statistics Canada report.

While the economy shrank in almost every Canadian province and territory last year, the only exceptions were in Prince Edward Island and the Yukon Territory.

Ontario, Alberta and British Columbia - three of the country's four biggest provincial economies - fell by more than the national average. Quebec's shrank by a relatively modest 1.0 per cent.

The figures comes days before Statistics Canada releases its GDP numbers for February of this year and nearly two months after it reported the national economy grew in the fourth quarter of 2009 at an annual rate of 5 per cent.

The growth in the final months of 2009 did not completely offset earlier declines when Canada was feeling the impact of a global recession which resulted in driving down the demand for exports and hurt domestic confidence.

  • broker 2010-05-01 1:56:15 AM
    Thanks brokers news for the 2009 GDP update, now that we are well into 2010. Glad to see you are keeping us up to date with relavant information like 2009 GDP numbers. Just a heads up ITS 2010, who cares about 2009? its in the past, why dont you report todays April 30 2010 GDP numbers that came out this morning? 2009 GDP numbers are meaningless unless you are a historian. The numbers out today could affect rates going forward and many other things.
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