Wednesday, March 17, 2010
More Good News Ignored by Coalition Parties.
Statistics Canada reported Tuesday that sales were up 2.4% during the month to $44.6-billion, marking the fifth straight monthly gain.
Most economists had expected sales to rise by between 0.5% and 0.6% during the month.
Seventeen of 21 industries reporting higher sales in January, with strong gains in British Columbia, Quebec and Ontario.
Industry Minister Tony Clement Wednesday also credited lower taxes brought in by his government and efforts to reduce companies' dependence on exporting to the United States with helping them adapt.
“All of these things have a cumulative effect that we expect will more than overcome the fact of the high dollar,” Mr. Clement told reporters. “The new normal is that you don't just rely on a low Canadian dollar as your productivity edge and I think most businesses have gotten that point now.”
The good news in the economy keeps coming.