We interrupt your regularly scheduled panic attack for this real news:
Canada's economy showing signs of shift away from oil, OECD says
A new report suggests exports from Canada's non-resource industries have offset some of the economic weakness created by slumping commodity prices.
An OECD report says output has dropped sharply in Canadian industries affected by commodity prices but has risen in the rest of the economy.
The Paris-based economic think-tank says the shift towards non-resource sectors has led to new job creation to take in some of the employees from the energy sector.
The Organization for Economic Co-operation and Development issued the report this morning as Finance Minister Bill Morneau was in Montreal for a meeting with OECD secretary-general Angel Gurria.
The report says Canada's lower dollar and flexible labour markets are supporting the shift towards non-resource production.
The report also notes the sharp increase in housing prices in major centres such as Toronto and Vancouver along with a rise in already high household debt.
Canada's economy showing signs of shift away from oil, OECD says - Business - CBC News
Canada's economy showing signs of shift away from oil, OECD says
A new report suggests exports from Canada's non-resource industries have offset some of the economic weakness created by slumping commodity prices.
An OECD report says output has dropped sharply in Canadian industries affected by commodity prices but has risen in the rest of the economy.
The Paris-based economic think-tank says the shift towards non-resource sectors has led to new job creation to take in some of the employees from the energy sector.
The Organization for Economic Co-operation and Development issued the report this morning as Finance Minister Bill Morneau was in Montreal for a meeting with OECD secretary-general Angel Gurria.
The report says Canada's lower dollar and flexible labour markets are supporting the shift towards non-resource production.
The report also notes the sharp increase in housing prices in major centres such as Toronto and Vancouver along with a rise in already high household debt.
Canada's economy showing signs of shift away from oil, OECD says - Business - CBC News