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Evaluate Canada's economy

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Analyze and interpret data trends (e.g., unemployment, inflation, real GDP, interest, housing starts) over the most recent three-year period to evaluate the economy and Canada's current economic status. Identify whether the economy is expanding (booming) or contracting (in recession).

You can get the economic data from www.statcan.gc.ca

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Solution Summary

This solution explains data trends of Canadian economy. The sources used are also included in the solution.

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Step 1
Interpreting the data trends for Canada's economy, the GDP growth rate declined from 2.8% in 2006 to minus 2.8% in 2009, since then the real GDP growth rate has recovered and the 2012 estimate is 2.1. This indicates that the economy is in the recovery phase.

Let us consider the last three years unemployment rate. In January 2011 the unemployment rate was 7.7; this rate has since declined to 7.1 in January 2013. This decline in unemployment rate shows that the economy of Canada is in the recovery phase.

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