Canadian Economy Powers Out Of Recession

Okay, so it’s March. By now, it’s no longer “the new year” but instead we are firmly planted into 2010 with the expectations that last year was…well, last year. Most Canadians are hoping that what happened in the past will stay in the past as they look forward to a much more prosperous future.

With the adverse effects on the economy that the global recession had, Canada is now working its way back up a strong financial status than it had in 2009. Today, the Canadian Press reports that things are, in fact, looking up.

According to their report on The Toronto Star‘s website: “The economy boomed back in the fourth quarter of last year, pushing well past expectations…Real gross domestic product grew at an annual rate of five per cent in the fourth quarter, a full point above what analysts had expected and the largest quarterly increase in nearly a decade.”

Canada’s economy actually grew by 1.2 per cent in the fourth quarter marking its largest rise since the third quarter of 2000. It looks as if the nation has finally made a “clean break” from the recession-strapped situation that hit in October of 2008. At least, it has according to economist Douglas Porter of BMO, who remarked that the fourth quarter of 2009 displayed a very significant change from the “devasatating 7.0 per cent decline in the first quarter of last year.”’

Paul Ferley, assistant chief economist at Royal Bank, believes that the numbers provide strong evidence that Canada’s economy escaped the recession as early as 2009’s third quarter. Said Ferley: “The strong rise at the end of the fourth quarter suggests strong momentum going into the first quarter of 2010.”

The hope, of course, is that job opportunities will continue to see a significant increase over the course of 2010. With the excessive job losses over the past year, the nation has become home to too many unemployed citizens. We would like to take this opportunity to remind Toronto residents, that Synergy Merchant Services is keeping its doors open to those who are seeking a career in the merchant cash advance industry.

We encourage you to contact us at 1-866-299-0101 to discover if the career opportunities offered by Synergy are right for you. Of course, we also continue to strive towards helping the Canadian economy by offering our unique merchant cash advance program to Canadian owners of small and medium-sized businesses.

We have long believed that even during tough economic times, it is wise for business owners to look into their funding options for the purposes of growing and expanding their companies. That way, once the recession ends, these owners will find themselves in a strong position to dominate their respective industries. Many of our clients used merchant cash advances to purchase new inventory at very competitive prices during the recession.

With the current state of the strengthening economy, these owners are in the process of reaping great profits through the sales of the relatively inexpensive items that were purchased last year.

Especially with the closing of the 2010 Winter Olympics yesterday in Vancouver, B.C., Synergy would like to wish a hearty congratulations to the entire country. With a record-setting gold medal performance and the escaping of the recession coming almost simultaneously, it is certainly time to forget 2009 and rejoice in a new era for Canada. We have already achieved great successes so far this year. There are certainly more to come.