After a brutal downturn, Canada's economy eked out growth of 0.1 per cent in June – the first monthly increase in the gross domestic product since July, 2008. Economists took this as a sign that the economy is finally turning the corner, but cautioned that the recovery is fragile.
One month of growth certainly does not by itself herald an end to the recession but there are plenty of indications that the economy kept growing through July and August. The housing market has snapped back, retail sales are firming, consumer confidence appears to be improving.
Unemployment is still high, people are still losing thier jobs and Canadians are understandably skeptical about reports that the worst is behind them.
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