Is this an economy in decline?

New economic projections for the next couple of years:

(W)ith GDP growth poised to speed up, the Bank of Canada won't want to wait much longer and will likely begin a series of rate hikes in October, says the Conference Board of Canada.

In a new study, the board boosted its forecast for economic growth to 2.5 per cent this year, up from its previous call of 2.3 per cent, and rising to 2.9 per cent next year...

(The Bank of Montreal) optimistically foresees growth hitting 2.9 per cent this year and rising to a robust 3.4 per cent expansion in 2006, driven mainly by the western provinces.

In the Conservatives' world, this is time to hit the panic button. Fortunately they don't run our world just yet.