But there's reason to be hopeful.
BMO cuts growth forecast to zero from 1.5 per cent.
The loonie at 80 cents U.S.? That was never going to last.
“Some are questioning whether Canada really needed that fiscal stimulus after all.”
It will take a few more years for Canada's economy to rebalance from the oil price shock.
Odds of a recession seen as much higher than just nine months ago.
Canada's manufacturers aren't ready for the new reality.
The Loonie is the lowest it has been in 15 years, a barrel of gas is trading for less than $30 -- compare these factors against the rising U.S. greenback and you get one gloomy economic forecast. However, there is one section of our economy that seems to be unaffected, as real estate is showing little signs of slowing down.
Economy to grow half as fast as earlier projected.
As unsettling economic news dominates the headlines, evidence is mounting that Canadian consumer spending will continue to