CANADA

摘要

The Q2 national accounts and June's output-based, monthly GDP release presented somewhat contrasting pictures of economic activity at the end of the first half of 2009. The quarterly report showed that the economy remained in the throes of recession. GDP contracted by 0.9% (q-o-q), down from 1.6% in Q1, to be sure, but the y-o-y rate in Q2 stood at -3.2%, its largest annual decline since 1991. The contraction in machinery and equipment investment was especially damaging, accelerating from -20.1 % (y-o-y) in Q1 to -22.4%. However, there were some signs of promise. Residential investment prevented a total collapse in overall capital expenditure, while personal spending actually grew by 0.4% (q-o-q), up from -0.8% in the final quarter of 2008 and -0.3% in Q1 2009.