With global finance ministers gathering in Washington this week, the International Monetary Fund is advising Canadian policy-makers against pulling too hard on the reins of austerity while the economy remains weak and vulnerable to shocks
Canadian firms have become more pessimistic about the economy and plan to ratchet down investment spending while keeping hiring modest, the newest business outlook survey by the Bank of Canada suggests.
Statistics Canada says the country's merchandise trade deficit with the world rose to $1 billion in February from $746 million in January as exports decreased 0.6 per cent while imports increased marginally.
Canada is in for a period of weak growth that will see the country lose its cherished place as the best economic performer among big industrial nations, the OECD said Monday in a fresh assessment of global prospects.
Far fewer Canadians expect to be retired at age 66 compared to 2008 when the global economic crisis hit, according to a new survey, which also found that more Canadians need, rather than want, to keep working.
Record unemployment and fraying social welfare systems in southern Europe risk creating a new divide in the continent, the EU warned Tuesday, when figures showed joblessness across the 17 EU countries that use the euro hit a new high.