The Canadian economy is firing on all cylinders except one,”with manufacturing in the midst of a year-long recession, according to a new Manufacturers Alliance/MAPI report, available at www.mapi.net.
In “Review of the Canadian Economy, 2007-2008,” Jeremy A. Leonard, MAPI economic consultant, writes that the Canadian economy is growing at or above potential, and labor markets are as tight as they have been in a generation. However, manufacturing is suffering from the rapidly strengthening Canadian dollar and slower-than-expected growth in the U.S.
Real gross domestic product grew by 2.9 percent at an annualized rate in the third quarter 2007 but is expected to decelerate to the 2-percent range before …
