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canada_economy
(02/28/10) -

Half of Canadians Think Economy is Good

(Angus Reid Global Monitor) – For the first time this year, a majority of Canadians are satisfied with the country’s financial standing, according to a poll by Angus Reid Public Opinion. 52 per cent of respondents rate the economic conditions in Canada today as good or very good, up four points since January.

(Angus Reid Global Monitor) – For the first time this year, a majority of Canadians are satisfied with the country’s financial standing, according to a poll by Angus Reid Public Opinion. 52 per cent of respondents rate the economic conditions in Canada today as good or very good, up four points since January.

Canadians renewed the House of Commons in October 2008. The Conservative party—led by Stephen Harper—received 37.6 per cent of the vote, and secured 143 seats in the 308-member lower house. Harper assembled a minority administration. The Tories also earned a minority mandate after the 2006 election, ending more than 12 years of government by the Liberal party.

Since 2007, defaults on so-called subprime mortgages—credit given to high-risk borrowers—in the United States caused volatility in domestic and global financial markets and ultimately pushed the U.S. economy into a recession. A recession is defined as two consecutive quarters of negative growth. The crisis has affected the global financial and credit systems.

In January 2009, Canadian finance minister Jim Flaherty presented the federal budget, which predicts a $70 billion U.S. budget deficit over the next five years, and includes a $33 billion U.S. economic stimulus package, as well as tax relief aimed at the lower and middle class.

Canada’s unemployment rate stood at 8.3 per cent in January 2010.

The federal government is expected to table its new budget on Mar. 4. Earlier this month, Flaherty introduced new guidelines for mortgages, declaring, "There’s no compelling evidence of a housing bubble, but we’re taking proactive, prudent, measured and cautious steps today to help prevent a housing bubble."

Polling Data

How would you rate the economic conditions in Canada today?

 

Feb. 2010

Jan. 2010

Oct. 2009

Sept. 2009

Very Good / Good

52%

48%

49%

47%

Poor / Very Poor

45%

45%

47%

49%

Not sure

3%

7%

4%

4%

Source: Angus Reid Public Opinion
Methodology: Online interviews with 1,013 Canadian adults, conducted on Feb. 23 and Feb. 24, 2010. Margin of error is 3.1 per cent.

Complete Poll (PDF)