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- Aug 22, 2008
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-The Canadian economy is in for a rough ride through the first half of the year and will see little or no growth in 2009 as the recession takes hold, top economists from Canada`s largest banks said on Wednesday.-The economy will also continue to shed thousands of jobs and the unemployment rate will move higher as fallout from the global financial crisis takes its toll.
-The comments were made by a panel of leading domestic bank economists at a Economic Club of Canada event in Toronto early on Wednesday.
-"The first half of 2009 looks pretty terrible for Canada," said Don Drummond, chief economist at Toronto-Dominion Bank.
-Drummond`s comments came ahead of key data due on Friday that is expected to show the Canadian economy shed 22,000 in December. That would follow a loss of 70,600 jobs in November.
-Canada sends about 75 percent of its exports to the United States, leaving it extremely vulnerable to the growing economic crisis there.
http://ca.news.finance.yahoo.com/s/0701200...t-09-panel.html
-The comments were made by a panel of leading domestic bank economists at a Economic Club of Canada event in Toronto early on Wednesday.
-"The first half of 2009 looks pretty terrible for Canada," said Don Drummond, chief economist at Toronto-Dominion Bank.
-Drummond`s comments came ahead of key data due on Friday that is expected to show the Canadian economy shed 22,000 in December. That would follow a loss of 70,600 jobs in November.
-Canada sends about 75 percent of its exports to the United States, leaving it extremely vulnerable to the growing economic crisis there.
http://ca.news.finance.yahoo.com/s/0701200...t-09-panel.html
