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To investigate the state of the Canadian economy it is very useful to track Canadas six major economic goals economic growth economic stability economic efficiency economic equity viable balance of payments and low unemployment At a given time Canada is achieving some of these goals while falling behind on some of the others When taken all into consideration these goals give an indication of how well Canada has been doing and the stage of the business cycle the Canadian economy is in In 1996-1997 Canada is in slight recession and is only meeting the goals of economic stability and viable balance of payments Canada can be said to be in a period of slight recession because there is a downswing in economic activity To confirm a true recovery an economy must show no growth for two consecutive quarters However Canada is not in a true recession because there was a 30 growth in the third quarter compared to 22 in the second quarter Eventhough it is not true recession the slow growth is a sure sign of a slight one Low inflation is also is also prevalent and is symptomatic of a weak economy A low inflation rate of 14 in November 1996 does not provide much of an indication for economic growth and expansion A shrinking positive balance of payments indicates these are tough economic times A fourth indication of a slight recession is the high unemployment rate An unemployment rate of 100 in November 1996 is definitely not a sign of strong economic recovery Canada is always trying to work towards the goal of economic growth Economic growth is the percentage change of GDP over a period of time and is also known as the growth rate In 1996 Canadas GDP has been increasing slowly since the first quarter The GDP in the first quarter was 18 then increased to 22 in the second quarter and in the third quarter it rose to
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