A Thaw In Canada's Economic Freeze

The U.S. isn't the only country to enjoy a productivity-led recovery. Canada, which suffered a deeper recession, has been posting a sharp 3.7% annual rise in output per hour since late 1990. In addition, exports surged 9.6% last year, and inflation fell to a mere 1.5%. The upshot, says the Organization for Economic Cooperation & Development, is that Canada should post 3.2% growth this year, more than any other Group of Seven nation.

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