Year: 2011
While we were cautiously optimistic about the economic outlook at the turn of the year, we now believe the odds have increased for a self-sustaining expansion in North America through this year and next despite the recent surge in commodity prices.
A recent analysis published in the Wall Street Journal highlighted the shifting sands of America’s trading patterns.
State and local government budget worries are at the top of the news these days. Q4 GDP growth was revised down, in part, because of weakness in state and local government spending, which fell 2.4% as yawning deficits pinched budgets.
Canada’s provincial and federal governments will be confronted this budget season with the same dilemmas facing most industrialized economies.