Recession and recovery are very similar in Canada and the US
Source: Note: Annualized quarterly growth rates are seasonally adjusted change rates from previous quarters (in constant dollars)
Source: Institute for Competitiveness & Prosperity analysis based on data from Statistics Canada and US Bureau of Economic Analysis
Source: Institute for Competitiveness & Prosperity analysis based on data from Statistics Canada and US Bureau of Economic Analysis
Quick Fact
Recession and recovery are very similar in Canada and the US
Report on Canada 2011 | Page 8
Some have concluded that the recession has been much more severe in the US than in Canada. But, from the beginning of the recession in the last quarter of 2007 to the last quarter of 2009, Canada’s real GDP fell nearly 2%; over the same period, US GDP fell 2.6%. In fact, the economic output of the two countries through the recession matched very closely
About this Site | Copyright © 2012 Institute for Competitiveness & Prosperity