It is likely that this correction has by now run its course, and most analysts are expecting inventories to make a positive contribution to demand over the second half of the year and for GDP to increase in the neighborhood of 2-3/4 percent.2 Household spending has been the main contributor to real GDP growth over the past four quarters, and, with solid gains in employment and household income and upbeat consumer sentiment, this sector should continue to support growth over the second half of the year.
11 In line with this trend, markups in several industries have been steadily increasing over the past three decades. 12 Here in Canada, the rate of industrial concentration is historically high.