Recovery will strengthen: Chamber of Commerce

OTTAWA — The Canadian Chamber of Commerce says the economy will continue to strengthen in the new year, but warns that premature withdrawal of stimulus measures could stall recovery, endanger confidence, and put jobs at risk.

OTTAWA — The Canadian Chamber of Commerce says the economy will continue to strengthen in the new year, but warns that premature withdrawal of stimulus measures could stall recovery, endanger confidence, and put jobs at risk.

In its annual outlook for 2010, the chamber says the global economy has turned the corner to recovery, but considerable uncertainties remain.

The Canadian economy is projected to grow at an average annual rate of 2.6 per cent in 2010—a fairly modest performance in comparison to previous economic cycles.

The unemployment rate is expected to peak in early 2010 at about 8.8 per cent as previously discouraged workers re-enter the labour force and resume job searches.

The Chamber also says a subdued pace of recovery in the U.S. will weigh on Canadian exports in 2010. But there is scope for continued expansion, supported by domestic demand.

The combination of the high dollar, excess supply, high unemployment and competitive pressure will continue to subdue inflation pressures. Headline inflation is projected to average about 1.6 per cent in 2010 and two per cent in 2011.

Just Posted

Man accused of manslaughter in fatal collision testifies he was cut off

A Delburne man accused of causing a fatal collision said he was… Continue reading

Class size targets hard to reach in Red Deer

Red Deer Public Schools recently updated its average class size

Lotteries look to younger customers to increase sales

Promoting online and interactive games

Red Deer man helps light up the holidays for others

Jim Elliott’s in his 15th year of mapping the city’s most magical, lit-up homes

WATCH: CP Holiday Train rolls into Lacombe

Kelly Prescott performed for hundreds of Central Albertans

Barry Cooper: Separation has become a real possibility, thanks to Ottawa’s abuses

In the past couple of weeks, a retired senior oil executive, Gwyn… Continue reading

Sex assault trial for former gymnastics coach resumes in Sarnia

SARNIA, Ont. — The trial of a former high-ranking gymnastics coach accused… Continue reading

Victims of former ski coach Charest say they were ‘sacrificed’ by Alpine Canada

MONTREAL — A lawsuit filed Wednesday against Alpine Canada by three victims… Continue reading

Emily Blunt on the ‘daunting’ task of playing Mary Poppins

BEVERLY HILLS, Calif. — Emily Blunt loves a challenge, and in the… Continue reading

Tommy Chong says Canada’s weed legalization has kept ‘underground market alive’

TORONTO — Tommy Chong has a pass, man. While some Canadians who… Continue reading

Apple deepens Austin ties, expands operations east and west

AUSTIN, Texas — Apple will build a $1 billion campus in Austin,… Continue reading

Trump comments upend U.S. approach to Huawei, trade talks

WASHINGTON — The United States and China have taken pains this week… Continue reading

Most Read