Canada's Fate Is In U.S. HandsGene Koretz
After growing a spectacular 5.6% in 1994, the Canadian economy is slowing sharply and runs the risk of posting nearly zero growth in the current quarter, reports economist Ian Amstad of Bankers Trust Co. Soaring exports have recently succumbed to the slowdown in U.S. demand, he notes. And draconian monetary tightening by the Bank of Canada around the turn of the year, to support the collapsing Canadian dollar, has pulled the rug out from under interest-rate-sensitive sectors.
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