Recession or not? Who to believe (2)

stephen2By Stephen Rhodes

Yesterday I talked about the divergent views around whether or not Canada`s economy is in recession.

It`s made worse by campaign theatrics around who can better manager the economy, like anyone has control over the price of oil.

Consumer spending is up, employment is up. Energy sector is having a rough time.

small bizThe concern is that all this political rhetoric can have a significant impact on small business in what for many should be the best quarter of the year.

I spent 30 years in the newspaper business and weathered two recessions in that time. The first indicators of an economic downturn in both cases came in the automotive and real estate sectors. Both were major advertisers and both cut their advertising budgets by significant amounts.

The Globe and Mail reported Tuesday – ` Excluding the oil, gas and mining sectors, the economy actually grew in the second quarter, thanks to higher consumer spending on the strength of the housing market as well as a modest jump in exports, led by the automotive and energy sectors.`

So, let`s take the optimistic view for the sake of small business in this country.

Make no mistake. We are open for business.

 

 

 

 

 

 

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