The North Atlantic region The group of countries that could be labelled as being in the North Atlantic region (North America, the United Kingdom and continental Europe) are in the early phase of recovery from a deep downturn. For several of them, the downturn was the worst for decades.
Europe is in recession and recent indicators point to a continued contraction. •  In China and other major emerging economies, growth has slowed somewhat more than expected. However, there are signs of stabilization around current growth rates. •  Notwithstanding the slowdown in global economic activity, prices for oil and other commodities produced in Canada have, on average, increased in recent months.