The state of our economy The past year has been a trying one, both for the world economy and for Canada. Still, considering the seriousness of the global difficulties we have been facing, the Canadian economy has coped much better than expected, and certainly better than in the past.
This is because it is in sounder shape now than it has been for many years. Canadian businesses have been investing in new technology to increase productivity and efficiency. Governments are no longer draining national savings to finance huge budget deficits. And with the Bank of Canada’s commitment to inflation control targets, inflation is low and stable.