Saturday, February 10, 2007

Welcome to a new economic cycle

Canada's industrial engine is sputtering. The rest of the economy is purring. How did it happen?
HEATHER SCOFFIELD reports from Windsor.

"WINDSOR, ONT. -- The people of Windsor are fond of saying that when it comes to slowdowns, their city is first in, first out."

""This always happens in Windsor. We feel it first. We're a barometer of where the economy is really going," says Gary Parent, president of the Windsor and District Labour Council."

"Windsor's unemployment rate is nearly in the double digits."

"Companies, especially manufacturers, are shutting their doors or treading a fine line of solvency. The bingo halls have turned out the lights. Charity money is drying up. The food bank is busier than ever."

"And houses are going up for sale so fast prices are actually falling." Full Article.

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