From Financialpost.com: The Conference Board of Canada forecasts the Canadian economy contracted an annualized 3.6% in the fourth quarter of 2008 and will contract 2% in the first quarter of 2009 and another 0.4% annualized in the second quarter as the U.S. recession slams trade. Overall, the economy will contract by 0.5% in 2009 after 0.6% growth in 2008.
“Export volumes have been on a downward trend since the second half of 2007,” the Conference board in its winter outlook. …. Full Article: Source