Week In Review
Monday, June 29th, 2009
After taking a breather during week three of June, all major benchmarks posted positive results last week. With only today and tomorrow left on the trading calendar, June is looking like it is going to be another positive month.
For those of you out there looking for economic news, the end of June will mark the end of the second quarter of 2009. The Bank of Montreal’s Economic Department released it’s latest economic update and forecast on Friday. The general definition of measuring an economy is Gross Domestic Product (GDP), adjusted for inflation. An economy is recession when GDP turns negative and stays negative for at least 2 consecutive quarters. It has long been forcasted that our economy would emerge from recession in the third quarter of 2009 and this latest report from BMO supports this. Although we won’t have numbers for a couple of months yet, the recession may officially be over in just 2 more days!
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