Summary
"Our forecast is there's a recession now," [Peter Dungan] said. "There may be a slight revision to the first quarter, but the second (which ended June 30) is almost certainly negative.
"This is nothing like the recessions we had in the early '90s and early '80s, however, when we had serious recessions and serious unemployment," he added."We are on track in terms of our budget in Canada, that we will continue to run a surplus," he said, adding that the country's "strong fundamentals" and status as an emerging energy superpower will keep it in better shape than the United States, although not immune to a global economic slowdown.See the full content of this document
Extract
Canada Close to Being in Technical Recession
By Julian Beltrame
OTTAWA -- Canada is within a hair's breadth of slipping into a technical recession, ...See the full content of this document
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