Just ran across an article reporting that as of Q2 of this year, they are now officially in a recession.
The article was written by Arete21, entitled
The Global Economy Is In Serious Trouble, And It Is Not Just Now Starting To Spread It Is Already Widespread .
...Along with the announcement yesterday by the central bank of Canada that it was slashing its interest rate to 0.50 percent, it released a report acknowledging that “Real GDP in Canada is now estimated to have contracted modestly in the first half of 2015, resulting in a marked increase in excess capacity and additional downward pressure on inflation. A significant part of the weakness is related to the oil price shock, although non-energy goods exports fell as well.”
The Bank of Canada said its economy shrank by -0.6 percent in the first quarter of 2015 and by -0.5 in the second quarter. It has also lowered its projected growth rate for the full year to “just over 1 percent” and “about 2 ½ percent in 2016.” The U.S. has not been able to climb out of the 2 percent growth range for the past five years as a hangover from the financial collapse in 2008...
Since Canada's economy contracted in Q2, I will speculate that the US
ofA Q2 economy will contract too; Pushing us into recessionary economy.
I am sure that the .gov economists are looking under every trash barrel (should read - Manipulating the numbers) to not allow this to happen. I still stay with my +.5% GDP with a +/- .5% swing when .gov releases the numbers 1-2 months from now.
