According to a study rendered by the Conference board of Canada, the economy of the country has slowly diminished over the month of May. The latest combined prominent index which keeps track of temporal indicators of the economy has evidently gone down by 0.2 per cent back in May, this turned out to be the first drop in a period of three months.
The Associate Director for National Forecasting with The Conference Board of Canada, Matthew Stewart said that the deterioration in the indication is a sign that the economy of the country should be expecting a bleak and frail outlook along the way. Even though there is hope, the workforce industry continuously weakens while the commercial trade stocks show no signs of blooming or taking a positive turn.
To add to all of this, the pace at which the United States economy is growing seems to be sluggish and is showing no rapid improvement whatsoever. This can affect the development of Canada’s economy in a very major way over the next few coming months. The majority of investors are reluctant of investing or putting their capital into businesses, this consequence is being faced by the country due to the weakening of the manufacturing and commercial construction permits for a sequential three months in a row, besides, these play as key indicators f the decline of the economy.