'Substantive Hangover'
Jacqueline Thorpe, Financial Post
Published: Tuesday, January 02, 2007
"There comes a point when you've been flying high for so long the only place to go next is down."
"Some economists say it could be quite a way down for the Canadian economy in 2007 with the manufacturing sector contracting, the housing boom fading and a non-trivial possibility the United States could fall into recession."
""Canada obviously has really enjoyed the rising commodity prices, the rising terms of trade, the positive real income shock," says David Wolf, Canadian economist at Merrill Lynch in Toronto. "It really has been boom times, but commodity prices have bottomed out, terms of trade has bottomed out and we may be starting to see the beginning of a more substantive hangover."" Full Article.
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