Canada’s Economy Will Slow to a Crawl: OECD

(CBC News)

The OECD has chopped its outlook for Canada for 2008 and now predicts the national economy will expand at the second slowest pace in the industrialized world.

The Organisation for Economic Co-operation and Development said Tuesday Canada’s economy will expand by only 0.8 per cent for the year, down from its previous prediction for annual growth of 1.2 per cent.

Only Italy, which the international organization forecasts to grow by a feeble 0.5 per cent, would perform worse than Canada among the G7 economies if the prediction holds. Read more.