Conference Board scales back economic outlook

November 3, 2008

3 November 2008

Conference Board scales back economic outlook

The following article is excerpted from the 3 November 2008 edition of “globeandmail.com”.

The Conference Board of Canada has cut back its outlook for the economy next year, barely a week after issuing its previous prediction.

The think-tank now expects Canada's economy to grow 1.5 per cent in 2009 — but avoid a recession.

The Conference Board's autumn outlook issued Oct. 24 had predicted 2.2 per cent growth next year.

The downward revision comes “as a recession-plagued U.S. economy takes its toll north of the border,”….

“High resource prices have bolstered Canadians' real income for six years, including 2008. In 2009, this source of strength will evaporate,” said Pedro Antunes, the Conference Board's director of national and provincial forecasting….


Topic(s): 
Canadian Economy & Politics
Information Source: 
Canadian News Channel
Document Type: 
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