North American stock markets staged yet another triple-digit drop as investors showed few signs Thursday of wanting to wade back into equities.
S&P/TSX composite index 3-month chart
Once again, it was energy and other resource stocks leading the sell-off. The metals and mining group was off 3.3 per cent amid a continuing drop in commodity prices. Investors fear that if the U.S. economy goes into recession, worldwide demand for base metals would suffer.
Recent U.S. economic indicators have been largely negative — retail spending has fallen, housing starts are at multi-year lows, foreclosures are way up, unemployment has risen, and stock markets have been selling off.
In a surprisingly optimistic forecast Monday the Conference Board of Canada is predicting the Canadian economy will experience slightly better growth this year than last .
The country should see its real GDP grow by 2.8 per cent in 2008, the board said in its quarterly economic forecast. That's higher than most private sector economists are calling for.
The board's optimistic outlook is based on its view that domestic spending will continue to be robust this year with domestic demand forecast to grow by 3.4 per cent. It notes that job growth and wage gains remain strong.
Full story
How do you feel about your economic outlook in the year ahead. Are you growing more cautious with your money amid signs of a slowing economy?
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Recent U.S. economic indicators have been largely negative — retail spending has fallen, housing starts are at multi-year lows, foreclosures are way up, unemployment has risen, and stock markets have been selling off.
In a surprisingly optimistic forecast Monday the Conference Board of Canada is predicting the Canadian economy will experience slightly better growth this year than last .
The country should see its real GDP grow by 2.8 per cent in 2008, the board said in its quarterly economic forecast. That's higher than most private sector economists are calling for.
The board's optimistic outlook is based on its view that domestic spending will continue to be robust this year with domestic demand forecast to grow by 3.4 per cent. It notes that job growth and wage gains remain strong.
Full story
How do you feel about your economic outlook in the year ahead. Are you growing more cautious with your money amid signs of a slowing economy?
More...