
This sounds like a job for ATF!
OTTAWA — Economists are gutting their forecasts for Canada's growth next year as the United States slides into recession and pulls the rest of the world down with it.A Bank of Nova Scotia forecast to be published on Tuesday projects a recession for both Canada and the United States.
And Goldman Sachs is warning that its outlook for Canada, to be released later this week, is going to be significantly weaker as well.
“Although Canada has been somewhat more insulated from the direct impact of the credit crisis, it will not escape the effects of a significant contraction in U.S. consumer spending over the next few quarters,” Goldman Sachs economist Andrew Tilton said in a note to clients late Sunday. “As a result, we will be revising down our estimates for Canadian exports and overall growth.”