Blogs & Comment

OECD Sees Brighter Times Ahead

Canada among a select few poised for recovery — and expansion.

(Photo: David Trood)

Compared to our neighbors to the south and many of the world’s largest economies, Canada is looking relatively good.

The OECD has just released its November 2009 composite leading indicators reportand things look good for Canada. It sees stronger signs of recovery and at least five nations, including Canada, are poised for an economic expansion. Of the countries listed, Canada, France, Germany, Italy and the UK are expected to see their economies expand. Japan, United States, Brazil, China, India and Russia all have outlooks for recovery from the latest recession.

On the unemployment side, rates have stabilized in November. The reported average for all OECD countries is 8.8%, the same as October and 0.1% above September. For Canada, the November rate was 8.5%, down 0.1% from October and up 0.1% from September. The United States waded in with a November unemployment rate of 10%, slightly down from 10.1% in October.