Posted AT 8:26 AM EST on 06/10/08
Scotiabank projects recession in Canada, U.S.
OTTAWA — Economists are gutting their forecasts for Canada's growth next year as the United States slides into recession and pulls the rest of the world down with it.
A Bank of Nova Scotia forecast to be published on Tuesday projects a recession for both Canada and the United States.
And Goldman Sachs is warning that its outlook for Canada, to be released later this week, is going to be significantly weaker as well.
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