Quebec’s Economy looks Good in Early 2008, But Risk of U.S. Recession Looms
Abstract:
As La Belle Province enters 2008, it is operating closer to full capacity than ever before. The employment rate in the province is at a record high and the unemployment rate is close to its lowest level in more than 30 years. Recent strength in three key areas — employment, income and government spending on infrastructure — will help domestic spending in early 2008. Further along, however, the outlook is less certain given that the U.S., which imports 25% of Québec’s total output, is now facing increasing risk of recession.
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As La Belle Province enters 2008, it is operating closer to full capacity than ever before. The employment rate in the province is at a record high and the unemployment rate is close to its lowest level in more than 30 years. Recent strength in three key areas — employment, income and government spending on infrastructure — will help domestic spending in early 2008. Further along, however, the outlook is less certain given that the U.S., which imports 25% of Québec’s total output, is now facing increasing risk of recession.