Terry and I are on our way to two restful weeks vacation at the cottage. We could not feel better to go now after such a year of stressfull market news . The consensus is clear. The recession is ending at last. This is music to my ears and I feel like having a party to celebrate it but going on vacation will do it. Here is why we feel more and more confident by the day:
The Bank of Canada has brightened its outlook for the Canadian economy, saying Tuesday it now thinks this year’s downturn won’t be as deep as previously forecast and 2010 growth will be stronger. The bank did as expected in keeping its key policy rate at the historic 0.25-per-cent low and repeating a pledge to keep it there until the spring of 2010.
US housing starts unexpectedly rose by 3.6% in June. Building permits rose the most in a year. The housing market is stabilizing.
Better outlook for the US also. The Federal Reserve Board expects the economy to shrink between 1% and 1.5% revised down from previous forecast 1.3% to 2%.
US retail sales were positive in June.
China, Japan and Brazil are all showing recovery signs also.
Back from vacation on Aug 10. The office remains open. The team will be there to help if you need anything!
Wishing you all a fun and safe summer with family and friends!