Canada is in RECESSION !!!!

[carl321]

What is so surprising about Canada being in recession?

Oil is a huge factor in Canadian economy. Having the oil price tanked more than half when compared to last year will obvious bring the economy down.

It will take time for it to bounce back.

I would say Canada is one of the safest country in terms of economy b/c we have so much resources that others wish that they had.

Is it surprising to you that China isn't doing so well too?

ya pretty good point

 

[carl321]

After Oil, water is the new natural resource in limited supply. Canada, by virtue of having the largest fresh water reserves (60% of all world's lakes are in Canada) and icy northern areas that will form water with global warming, stands to gain most in the decades to come.
Next set of global skirmishes won't happen over Oil, they will happen over clean water.

Unlike other OPEC countries, Canada, along with Oil reserves, also has a lot of water and this puts it in a unique and commanding position for the future!

Current recession is a small matter and I believe only a blip in a very strong and high potential economy.

also from what i understand; Canada is heading mostly towards a service based economy than a manufacturing one. which would be great for skilled immigrants who are moving now and in the future.
Main reason why I started this tread is to understand if we would feel it (recession) because I was living in the UK when the recession hit in 2007/08 and I lost my job (layed off) after 3 months of getting it. I was a fresh graduate back then and ended up working odd jobs just to survive and im still paying my student loans.

Even though I didnt buy a house or anything like that; people were able to feel it slightly.. coz the average household expenditure gradually went up. Suddenly your paying more than earning (like the economy of "developing" country)


Hopefully it will be different in Canada.

 

[uxd]

Manufacturing? Canada is a natural resources economy - forestry, minerals, oil sands. There is negligible "conventional" manufacturing here. Services have always been bigger than manufacturing here. Banking, insurance and real estate sectors are big. Ever heard "made in Canada" ? Not talking about maple syrup or molson beer ;D

 

[Hansdza]

Canada Goose is made in Canada bro.. other than that Blackberry first generation perhaps :-\

 

[mf4361]

Manufacturing? Canada is a natural resources economy - forestry, minerals, oil sands. There is negligible "conventional" manufacturing here. Services have always been bigger than manufacturing here. Banking, insurance and real estate sectors are big. Ever heard "made in Canada" ? Not talking about maple syrup or molson beer ;D

Made in Canada?
How about Toyota, Honda, GM, Ford? How about Liminar? who makes tons of engine parts for cars?
How about Bombardier?

Yes maybe of them are struggling at the moment, but certainly not negligible

 

[uxd]

Made in Canada?
How about Toyota, Honda, GM, Ford? How about Liminar? who makes tons of engine parts for cars?
How about Bombardier?

Yes maybe of them are struggling at the moment, but certainly not negligible

Hello sir! So where does Canada export its Honda/GM/Ford? And btw are these Canadian brands at all? Bombardier? No one knows it outside Canada. Manufacturing sector is not auto sector alone. Ever heard about China/Korea/Japan's manufacturing sector? Those are called manufacturing economies. Lets not compare one or two companies to the GDP as a whole.

 

[mf4361]

Hello sir! So where does Canada export its Honda/GM/Ford? And btw are these Canadian brands at all? Bombardier? No one knows it outside Canada. Manufacturing sector is not auto sector alone. Ever heard about China/Korea/Japan's manufacturing sector? Those are called manufacturing economies. Lets not compare one or two companies to the GDP as a whole.

Just because a brand isn't Canadian doesn't mean it's not part of Canada's GDP. Its the world economy now. If it's made in Canada, by Canadian employees, it count as Canada's GDP.

I'm arguing against you that Canadian manufacturing sector isn't negligible. It's certainly not as influential as energy sector, but certainly plays a significant role in the economy, involving thousands and thousands of family.

Honda has an assembly plant near Aurora, Toyota in Woodstock and Cambridge, GM in Ingersoll. Bombardier has tens of thousands of employees just in Canada. And obviously I haven't mentioned hundreds and thousands of individual manufacturers of all kind throughout Canada. (injection molding, metal fabrication, steel making, agriculture, you name it.)

 

[ttrajan]

Canola Oil is from Canada.

 

[uxd]

Just because a brand isn't Canadian doesn't mean it's not part of Canada's GDP. Its the world economy now. If it's made in Canada, by Canadian employees, it count as Canada's GDP.

I'm arguing against you that Canadian manufacturing sector isn't negligible. It's certainly not as influential as energy sector, but certainly plays a significant role in the economy, involving thousands and thousands of family.

Honda has an assembly plant near Aurora, Toyota in Woodstock and Cambridge, GM in Ingersoll. Bombardier has tens of thousands of employees just in Canada. And obviously I haven't mentioned hundreds and thousands of individual manufacturers of all kind throughout Canada. (injection molding, metal fabrication, steel making, agriculture, you name it.)

Where did i say its not part of gdp. Im talking abt comparison. Canada is not a manufacturing economy. This is my point. Yes there is a manufacturing sector here but that doesnt make it a manufacturing economy.

 

[mead]

manufacturing is surprisingly important part of economy of canada
https://en.wikipedia.org/wiki/Economy_of_Canada#Key_industries

 

[ttrajan]

Harper says oil and gas industry is only 20% of Canadian economy? It has more impact on Alberta than canada?

 

[carl321]

Canola Oil is from Canada.

Did not know that

 

[uxd]

manufacturing is surprisingly important part of economy of canada
https://en.wikipedia.org/wiki/Economy_of_Canada#Key_industries

Ok lets see the official government figures. http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/gdps04a-eng.htm
See the row that says manufacturing. Now would you agree ?

 

[mead]

Ok lets see the official government figures. http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/gdps04a-eng.htm
See the row that says manufacturing. Now would you agree ?

i hope u understand numbers.....manufacturing from the data u presented is number 2 right below real estate....unless i am looking at the numbers wrong.

 

[lotusEsp]

if I can keep my job, I all for a small recession in canada

I've just got PR and I want to buy a house - recession is the best time to do that if you have the income