XPost: can.general, can.politics, soc.culture.canada 
 From: abc@123.cl 
  
 Canada seen moving up in economic rankings 
  
  
 August 17, 2009 
  
  
 TORONTO - Canada is expected to move up in global economic rankings in 
 2009 and 2010 as the recession lingers in other countries, buoyed by a 
 stable bank sector and lower unemployment, a study showed on Thursday. 
  
 After ranking 11th of 17 developed countries in the Conference Board of 
 Canada's 2008 report card, Canada is expected to vault to 5th place in 
 2010, based on economic forecasts by the Organization for Economic Co- 
 operation and Development (OECD), the Conference Board said. 
  
 Using the OECD's forecasts for growth, unemployment and other economic 
 factors over the next two years, the board found Canada was poised to 
 come out of the global recession ahead of many peers, pushing it up the 
 rankings for international economic performance. 
  
 Belgium and the United States were also expected to move up, while 
 Britain, the Netherlands and Switzerland are expected to fall, it said. 
  
 "Canada is expected to weather the global recession better than most of 
 its peers, which is a credit to its stable financial sector and a 
 relatively healthier economic position upon entering the downturn," 
 said Conference Board Chief Economist Glen Hodgson. 
  
 Despite substantial movement among the 17 countries, the top and bottom 
 positions are not expected to change between 2008 and 2010. Norway is 
 expected to retain first place in both 2009 and 2010, buoyed by its 
 resilient economy and large petroleum sector. Ireland is forecast to 
 remain in 17th place both years. 
  
 A separate report issued on Thursday showed a growing number of 
 Canadians are upbeat about the prospects for the national economy and 
 employment situation in six months. 
  
 The TNS Canadian Facts' Consumer Confidence Index rose to 99.2 in 
 August, up six percentage points from July's 93.4 reading. 
  
 "Bank of Canada Governor Mark Carney declared last month that the 
 recession is over. While unemployed Canadians may not agree with this 
 assessment, the fact is consumer confidence has been trending upward 
 since it fell to an all-time low last December," said Michael Antecol, 
 director of the marketing research company's monthly tracking study. 
  
 "Canadians are increasingly optimistic. Their battered investment 
 portfolios have recovered somewhat since last fall, housing prices are 
 up in several markets, and the key lending rate is at historic lows," 
 he added. 
  
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