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The downturn in the Canadian manufacturing sector this year will act as a drag on industrial output, which will post its weakest expansion in seven years, a major domestic bank warned Monday. However, strength in Canada`s services sector -- especially wholesale and retail trade -- as well as in non-residential construction and most primary industries will keep the overall economy out of a recession, TD Bank said.
"Just as a mild U.S. recession crimped growth back in 2001, it is the dramatic weakening in the U.S. economy that will put a major damper on Canadian output in the year ahead," TD Bank said.
http://www.canada.com/vancouversun/news/bu...1b-9f3c3d58bf3a
"Just as a mild U.S. recession crimped growth back in 2001, it is the dramatic weakening in the U.S. economy that will put a major damper on Canadian output in the year ahead," TD Bank said.
http://www.canada.com/vancouversun/news/bu...1b-9f3c3d58bf3a