Resource Sector Boom Helps Canadian Incomes Outgrow U.S

Statistics Canada said that a two-decade downward trend in Canada's fortunes prior to 1999 — prompted by falling commodity prices and declining resource production as a percentage of world economic output — was reversed in very short order. "All that changed with the commodity boom that Canada experienced after 2003. Export prices rose sharply, the Canadian dollar appreciated and prices of imported goods fell," Statistics Canada said. In three short years, real income relative to the United States returned toward levels not seen since the mid-1980s. While Canada has enjoyed a rise in real income, rising commodity prices in the United States have held back income growth, Statistics Canada said. http://www.cbc.ca/consumer/story/2007/11/22/incomegrowth.html

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