Canada has become infected with the recession from the south. The price of oil is at all time highs, and the economy is stagnant. The next 24 months could be a very bumpy ride for the Canadian economy hurt by the loss of manufacturing jobs.
The economy has sharply deteriorated to near recessionary levels and the cost of filling the tank and putting bread on the table is going to go sharply higher, Canadians were told Thursday.
A bleak economic assessment came from the Bank of Canada's quarterly monetary report, which warned that Canadian exports, particularly from manufacturers in central Canada, will be hard hit this year by the U.S. slump and tight money in the credit markets. Article.
Wednesday, April 30, 2008
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2 comments:
Working as a Steveston real estate agent I am already affected by the crisis from the south. We have constant decrease in demand since beginning of the year. Canadian economy is still in a quite a good condition just thanks to prices of natural resources and strong dollar which could easily turn to disadvantage in case that export will struggling.
Bart - I'd contact these people who post comments and ask them to advertise.
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