Prospects of weaker global economic growth hurt Canada

Prospects of weaker global economic growth hurt Canada

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by News Staff Posted Apr 15, 2013 12:36 pm MDT The Toronto Stock Exchange among the big losers Monday after China reported weaker than expected economic growth.A senior economist with BMO Capital Markets tells 660News, investors are also nervous about the ongoing debt crisis in Europe and mixed figures coming out of the U.S.Sal Guiettera says commodities are among the things investors unload whenever there is concerns about growth moving forward.Guiettera says with Canada being a resource based economy, any kind of sell off has a big impact on us.Among the stocks being hardest hit are gold and oil and the Canadian dollar is also trading lower.Guiettera says strong demand for homes and ramped up consumer spending, helped Canada weather previous economic storms, but not this time.He says Canadian consumers appear to be tapped out and are more interested in tackling their own debt problems instead of opening up their wallets or purses.There are signs economic conditions will improve later in the year south of the border , which will help economic growth north of the 49th parallel. Prospects of weaker global economic growth hurt Canada


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