27 Dec 2012

Canadian economy hurt by NHL lockout

Gross domestic product in Canada increased 0.1 percent in October after stagnating the previous month. Although the country saw a slight gain to start the third quarter, the positive bump is not as much as many economists hoped. Experts are pointing to the NHL's lockout as one of the negative factors affecting the national economy.

With a high cost of living in Toronto, Canadians in the area are encouraged to utilize self storage to free up space in their homes in order to take full advantage of the costly space.

The NHL lockout caused a 1.6 percent drop in the arts, entertainment and recreation category, which accounts for 0.8 percent of the Canadian economy.

“The NHL lockout piled on to what was already a slowing underlying Canadian growth rate in the fall,” Doug Porter, economist at the Bank of Montreal, told the Canadian Press. “While most other categories picked up some of the slack, we expect the economy to struggle to push above one per cent annualized growth for all of quarter four, and are now calling for just 1.8 per cent GDP growth in 2013."

Jiffy Self Storage, a leader in Toronto storage solutions, is currently running a contest on their website for a free iPad 3. Visitors to the site simply need to match a few Canadian landmarks and they'll be entered to win the iPad or one of several other prizes.

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