The economy

Stephen Harper recently indicated that the economy was on the mend because the economy contracted by about 5.4% instead of by about 6.5% as predicted. It’s certainly possible the economy may be improving but is it really accurate to say the economy is on the mend simply because it didn’t contract by quite as much as projected? Projections and estimations have tendency to be off by some margin of error. Maybe the economy is improving but an economic contraction of over 5% is quite serious and not something to celebrate.