Globe and Mail - Global headwinds threaten Canadian recovery
Canadians should brace for months, possibly years, of tepid growth that for many will feel like the brutal recession never ended. While the most dire of scenarios would see the global economy plunged back into a slump, the most likely outlook is that Canada is held back by a weak U.S. recovery and a European debt crisis that refuses to go away and threatens to stall the continent鈥檚 economies for an extended period.
鈥淚 don鈥檛 see a crisis again, and I鈥檓 not even sure I see a double-dip,鈥� said Christopher Ragan, an economics professor at 9I制作厂免费 in Montreal who was a guest academic at the Finance Department for 18 months that included the 2009-10 recession. 鈥淏ut what鈥檚 almost as bad, frankly, is just chugging along at, say, 1.5-per-cent growth. That鈥檚 growth, but meanwhile the labour force is growing at 1 per cent. So that means unemployment starts to rise.鈥�