Canadians optimistic economy to recover

Canadians are feeling pretty good about where their economy is headed. That’s the conclusion drawn from a new Canadian Press Harris-Decima survey. The poll suggests six in 10 Canadians think the economy will bounce back at least twice as strongly as it will in the United States.

OTTAWA — Canadians are feeling pretty good about where their economy is headed.

That’s the conclusion drawn from a new Canadian Press Harris-Decima survey. The poll suggests six in 10 Canadians think the economy will bounce back at least twice as strongly as it will in the United States.

“We wanted to see: Are Canadians feeling that good about how things are? And what the data told us is, ’Yes, they are,”’ said Jeff Walker, Harris-Decima’s vice-president.

“They feel like things are really rebounding, that things are turning around, and that based on what they observe about the U.S. that it could be the case that we have twice the level of growth they do this year.”

The poll results echo recent projections by Canada’s top banker, who has all but declared the recession over and said the economy will begin growing this summer after nine months of stagnation.

Bank of Canada governor Mark Carney recently said the summer quarter should produce growth of 1.3 per cent, the first quarterly economic expansion in Canada since last fall.

But Carney’s rosy projections were fraught with cautions and caveats.

He warned economic recovery hinges on massive government stimulus and the central bank’s vow to keep the policy interest rate at the historic low of 0.25 per cent until mid-2010.

The state of the American economy is another roadblock to a solid bounceback in Canada.

The world’s biggest economy’s housing market has been battered in recent years, and weak consumer spending and massive government deficits threaten to keep the U.S. on the skids for a while longer.

That will weaken growth prospects in all of America’s trading partners, particularly its largest, Canada.

But the poll suggests most Canadians aren’t put off by any of that.

“There’s a sense, number one, that there’s demand for what we’ve got, maybe that’s greater than demand for what (the) Americans’ got,” Walker said.

Western Canadians were slightly more optimistic about the economic recovery than those in Atlantic Canada and Quebec, the poll suggests.

Conservative supporters were more confident about the economy’s rebound than those who back other political parties.

Seventy per cent of Tory backers thought Canada’s economy would outperform the United States’, compared to 65 per cent for the Liberals, 62 per cent for the Bloc Quebecois and 48 per cent for the NDP.

Just Posted

Red Deer area businesses recognized at Business of the Year Awards night

“It’s an honour just to be nominated.” The popular words echoed throughout… Continue reading

Child sex offender should get 12 years: Crown prosecutor

Stuart Peter Hunt has pleaded guilty to 10 child sexual exploitation and pornography charges

Legalizing cannabis cost estimate for Red Deer just under $400k

Although the province of Alberta has announced $11.2 million for cannabis legalization,… Continue reading

WATCH: Every square tells a story: Edmonton expert is exploring Red Deer’s quilting history

Community members can bring in family heirloom quilts for documentation

WATCH: Two weeks away from Canadian Finals Rodeo in Red Deer

In just two weeks, Ponoka’s Shayna Weir will compete with the best… Continue reading

Film with Fan Bingbing, Bruce Willis cancelled after tax case

BEIJING — The director of “Air Strike,” featuring Chinese actress Fan Bingbing,… Continue reading

Michael Buble shuts down rumours of retirement from music

LOS ANGELES — Michael Buble is shutting down rumours that he’s going… Continue reading

After Canada legalizes pot, industry eyes rest of the world

MONTREAL — Cam Battley is a top executive at one of Canada’s… Continue reading

Facebook’s election ‘war room’ takes aim at fake information

MENLO PARK, Calif. — In an otherwise innocuous part of Facebook’s expansive… Continue reading

Military to overhaul morale-boosting trips after review finds serious problems

OTTAWA — Canada’s top general is overhauling military morale-boosting tours after an… Continue reading

Police hand out a few hefty fines for allegedly violating Cannabis Act

The celebratory mood that marked the legalization of recreational cannabis lost a… Continue reading

PHOTO: Say goodbye to City Hall Park flowers

A sure sign that winter is on its way is when City… Continue reading

PHOTO: Chew On This! campaign draws attention to national poverty

Lunch bags were being handed out in front of The Hub downtown… Continue reading

Most Read