Monday, January 11, 2010

Roubini Canada avoided The financial Crisis , but recovery lags

Nouriel Roubini
Nouriel Roubini, the professor at the Stern Business School at New York University and chairman of Roubini Global Economics (RGE), wrote about Canadian economic recovery in his weekly column for Forbes :
"Canada's financial strength and timely monetary easing resulted in a milder recession (the net output loss was lower than in the previous postwar recessions), but its recovery has been sluggish. Like much of the global economy, Canada exited recession in mid-2009 and has good momentum going into 2010. But the recovery could continue to be slow with below-potential growth as the external sector drags and the stimulus wanes. Moreover, Canada's twin surpluses (fiscal and current account) have shifted to a deficit. Given our concerns about the strength of the U.S. and G3 recovery, Canada's private investment may also be slow to recover."

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