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Canadian Economy Shrinks In Second Quarter

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Gross domestic product fell at an annualized rate of 0.4pc from the first quarter.

This was worse than a 0.1pc increase expected by economists and a 3.6pc gain in the first three months of the year, Statistics Canada said.

Temporary factors such as Japan's earthquake and tsunami played a big role, with exports sliding 2.1pc - the fall since the third quarter of 2010.

Good to see we've got the excuses in.

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I wonder exactly how much Canada exports to Japan.

Oh, here are the export figures for 2010, look.

$ millions

Total 404,834.2

United States 296,672.0

Japan 9,716.6

United Kingdom 16,985.8

Other European Union 19,475.8

Other OECD 17,908.3

All other countries 44,075.7

So, what were the other temporary factors, then? Bill and Kath's state visit, perhaps?

Edit: splung

Edited by Snugglybear

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