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Canada's Recovery Grinds To A Halt, And Recessionary Risks Resurface Sep 11
Standard & Poors, Sep 2011
Abstract
Canadian economic growth stalled in second-quarter 2011, mostly as a result of worsening exports for Canadian companies. But also in the mix were temporary disruptions in Canada's energy patch as well as the country's auto sector, developments that contributed to an annualized 0.4% contraction in Canadian real GDP for the quarter. It was the first time since the recession ended in 2009 that Canada experienced lower economic activity. Supply disruptions related to the earthquake and tsunami in Japan were among the factors that led to a 6% drop in auto and parts production. In the energy sector, maintenance shutdowns cut output. Standard & Poor's Ratings Services expects these influences to fade and GDP growth to resume. But we also see...
Companies mentioned in this report are: Canada
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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