Conference board predicts slower growth coming
Posted Jul 14, 2010 02:30:19 PM.
This article is more than 5 years old.
The Conference Board of Canada is forecasting slower economic growth in the second half of the year.
The think tank’s latest report says the economy is expected to grow by 3.6 percent this year. The gains came between January and June.
Officials with the board admit the Canadian forecast is closely tied to a rebound in U.S. household spending, which remains fragile.
A spokesperson says that despite generating job and income growth, household savings are declining, which makes the growth unsustainable.
The board is also predicting an at-par loonie by the end of 2010.
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