All News

Economy will shrink in 2009, warns Flaherty

The federal government finally conceded the economy has slumped into a recession that will continue to inflict pain on Canadians through all of next year. Flaherty said a government survey of private sector economists showed that gross domestic product was predicted to fall 0.4% in 2009. Such a result would be the first contraction on a yearly basis since the early 1990s’ recession. The outlook, which was made in November, had deteriorated rapidly from just a month earlier, when the survey showed economists expected Canada to eke out growth of 0.3%.
http://www.financialpost.com/story.html?id=1087346

National Post

Latest News 2008