Happy Civic Holiday Ontario
The August Bank Holiday in Ontario is becoming more of a non-entity every year. This year all stores seem to be open, the only things that are closed are Banks and Government offices, which should help stimulate the economy a little (I suppose). I did my part to stimulate the economy by purchasing a new TV to replace the 1987 genre one my kids watched (which they claim wouldn’t show channels 2-13, but what is on those channels anyhow?), but whether this is helpful to the economy we can only hope.
GDP Continues to Decrease
Stats Canada came out with data on the Canadian GDP in May on Friday and it seems it is the world of manufacturing that is causing the largest drag to the GDP, whereas the services sector remains relatively constant. This statement itself is no big surprise, given the Auto sector is in deep trouble and all the associated companies are suffering along with the big car makers.
GDP Down again for May
The energy and manufacturing sectors were the main contributors to May’s decline. Construction and wholesale trade also decreased. Conversely, the activities of real estate agents and brokers as well as retail trade advanced in the month.
Not horrible news, but things need to start picking up soon.
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August 3rd, 2009 at 7:28 AM
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