Canada's economy grew at 5.6% annual rate in first quarter of year

mentalfloss

Prickly Curmudgeon Smiter
Jun 28, 2010
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I expect much champagne popping and jubilation!

Canada's economy grew at 5.6% annual rate in first quarter of year​

Statistics Canada says the economy grew at an annual rate of 5.6 per cent in the first quarter of the year.

The economic boost was aided by the loosening of public health restrictions that helped increases in goods-producing and services sectors.

Construction expanded for the third consecutive quarter, driven by construction of single-family homes and renovations as Canadians looked to improve their houses or find a larger space.

Canada's economy grew at 5.6% annual rate in first quarter of year (citynews.ca)
 
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taxslave

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Nov 25, 2008
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I expect much champagne popping and jubilation!

Canada's economy grew at 5.6% annual rate in first quarter of year​

Statistics Canada says the economy grew at an annual rate of 5.6 per cent in the first quarter of the year.

The economic boost was aided by the loosening of public health restrictions that helped increases in goods-producing and services sectors.

Construction expanded for the third consecutive quarter, driven by construction of single-family homes and renovations as Canadians looked to improve their houses or find a larger space.

Canada's economy grew at 5.6% annual rate in first quarter of year (citynews.ca)
Bullshit. The economy has not yet got back to pre pandemic levels.
 

taxslave

Hall of Fame Member
Nov 25, 2008
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So the economy has gained back maybe 5% from the turdOWE forced crash. However except for government employees wages have not increased, and inflation is up at lest 18%. Tripple that if gas and housing is included. OAP went up $8 or .5-1.5 % depending on which recorded message you listen to while waiting to talk to a rich government employee.
 

Twin_Moose

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Apr 17, 2017
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“A disastrous economic record,” Poilievre takes aim at sluggish June job numbers

By
Harrison Faulkner
-
July 11, 2021

The Trudeau government is to blame for Canada’s sluggish job numbers in June, according to Conservative MP Pierre Poilievre.

On Friday, Poilievre held a press conference to respond to the latest unemployment numbers. Statistics Canada revealed that the country lost 33,000 full-time positions in the month of June despite provinces reopening their economies and lifting or easing public health restrictions.

“This is a massive surprise. We thought the economy was reopened. It was assumed there would be a massive surge in job gains, but in fact 33,000 Canadians lost their full-time jobs,” Poilievre said.

Since the early months of the pandemic, the Conservatives have been sounding the alarm on Trudeau’s unprecedented spending but to no avail.

Canada’s federal debt surpassed $1 trillion dollars this year following a frenzy of pandemic spending by the ruling Liberal government. Further, in its latest budget, the government revealed a whopping deficit of $354 billion with no plan to pay down the debt and balance the books.

“This is a disastrous economic record – one we warned about and the government ignored our warnings, and now Canadians are suffering the consequences for their failures,” Poilievre said.

Poilievre pointed the finger at the Trudeau government for Canada’s poor economic performance last month.

“When it comes to overall employment, the government fell 340,000 jobs short of its budget promise to regain all of the lost jobs from the pandemic,” the Conservative MP said.

“So in other words, they broke their promise. We’re actually losing full-time jobs, we have the second-highest unemployment in the G7, the biggest deficit in the G20 as a share of our GDP, housing prices are up 30% in one year making homeownership impossible for most Canadians and inflation is at a 10-year-high.”.....More
 

bob the dog

Electoral Member
Aug 14, 2020
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Work from home benefits are what is driving the real estate market. Banks are working the home office benefit into the mortgage so that people can buy even more expensive homes. Nothing better than signing a young couple up for a $500,000 30 year mortgage.

Of course it is government employees and their jobs for life that are benefitting.
 

petros

The Central Scrutinizer
Nov 21, 2008
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Work from home benefits are what is driving the real estate market. Banks are working the home office benefit into the mortgage so that people can buy even more expensive homes. Nothing better than signing a young couple up for a $500,000 30 year mortgage.

Of course it is government employees and their jobs for life that are benefitting.
Uh uh. Mutual funds are gobbling up housing for rentals. They did it to farmland a decade ago. Why not housing?
 
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JLM

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Nov 27, 2008
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I expect much champagne popping and jubilation!

Canada's economy grew at 5.6% annual rate in first quarter of year​

Statistics Canada says the economy grew at an annual rate of 5.6 per cent in the first quarter of the year.

The economic boost was aided by the loosening of public health restrictions that helped increases in goods-producing and services sectors.

Construction expanded for the third consecutive quarter, driven by construction of single-family homes and renovations as Canadians looked to improve their houses or find a larger space.

Canada's economy grew at 5.6% annual rate in first quarter of year (citynews.ca)
Thanks to the price of lumber & real estate! Phony economy! Watch it slump 6% in the the next quarter!
 

bob the dog

Electoral Member
Aug 14, 2020
885
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Why is the price of gas so high? $180 to fill a pickup from empty.

Between the oil companies grabbing what they can and taxes it is getting a bit out of hand for a country that can't sell any oil. Sad that they have to oppress the consumer for every nickel they can.

Still can't figure out what they do with their money.
 
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petros

The Central Scrutinizer
Nov 21, 2008
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Moccasin Flats
Why is the price of gas so high? $180 to fill a pickup from empty.

Between the oil companies grabbing what they can and taxes it is getting a bit out of hand for a country that can't sell any oil. Sad that they have to oppress the consumer for every nickel they can.

Still can't figure out what they do with their money.
It's because Eastern Canada still imports. Thank Esso and Irving for not updating their refineries to handle WCS.
 
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