Canada can’t avoid recession or deficit
by investor on 18/10/08 at 2:24 pm
Canada will be dragged into a recession by a deep and protracted consumer-led recession in the United States, as well as the loss of wealth in the Canadian stock market and slowdown in the domestic housing market, the head economist at a major investment bank warned Tuesday.
And the federal government will have to go back into deficit to deal with the downturn, predicted Sherry Cooper, chief economist at BMOCapital Markets in one of the grimmest forecasts to date by a major domestic financial institution.
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