Canada’s First-quarter GDP Decline was a Rare Event
Abstract:
First-quarter 2008 real (inflation-adjusted) Gross Domestic Product (GDP) in Canada was -0.3% (on an annualized basis) versus fourth-quarter 2007. The negative figure was quite a rare event. It was only the third time in the past sixteen years that GDP has declined, on a quarter-to-quarter annualized basis. This report goes on to examine other periods of weakness in the Canadian economy and considers the question of whether or not “stagflation” is a concern at this time.
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First-quarter 2008 real (inflation-adjusted) Gross Domestic Product (GDP) in Canada was -0.3% (on an annualized basis) versus fourth-quarter 2007. The negative figure was quite a rare event. It was only the third time in the past sixteen years that GDP has declined, on a quarter-to-quarter annualized basis. This report goes on to examine other periods of weakness in the Canadian economy and considers the question of whether or not “stagflation” is a concern at this time.