While the adjustment process in Canada has been complex, and very difficult on a personal level for many, we are seeing encouraging signs that the worst may be over. Activity and investment in the oil and gas industry have stopped declining and are coming back to a level that is commensurate with current prices.
And because that large negative force is now essentially past, it is no longer masking the sources of strength in other sectors. There is still a way to go, but the two tracks of the economy are gradually converging to become a single track for sustainable growth.