Canada could be 1st into recession, bank warns

[alp227]

Source: CBC News

Canada’s big banks continued to issue warnings of slowing economic growth Tuesday, with the Bank of Nova Scotia suggesting Canada could be among the first of the world’s advanced economies to fall into a technical recession.

And economists with TD cut their prediction for global growth this year.

The Scotiabank report suggested Canada’s economy could show no growth for a second consecutive quarter, the one which ends this month. Canada's economy contracted by 0.4 per cent in the April-June period.

Some economists consider two quarters of no growth or contraction in economic activity a recession.

Read more: http://www.cbc.ca/news/canada/story/2011/09/13/scotia-recession-canada.html

[KurtNYC]

1. How could Canada be "first" at this point ??

Spain, Greece, Italy, France, the USA, UK....

the line forms at the rear Canada.

[RC]

2. Simple - A right wing nit... nut.

What the idiot is really saying is his take home pay may decrease at that point. Until then everything is just hunky dory.