Canada set to rebound faster than US: economist

Sep 16, 2011 | 05:28 PM |

Tags  Canada, U.S., economy, U.S. recession, currency exchange rate, oil sands, budget surplus

SCHAUMBURG, Ill. — The old adage that "when the United States sneezes, Canada catches a cold" still holds true.

But factors ranging from the big returns expected from Canada’s investment in the oil sands to an anticipated budget surplus in the not-too-distant future promise a quicker recovery for Canada than its neighbor to the south.

The U.S. recession, combined with the impact of the Japanese earthquake and tsunami on the automotive industry, the strong Canadian dollar and even forest fires in Alberta, have had a dampening effect on Canadian economic growth, according to Michael Gregory, senior economist and managing director at BMO Capital Markets, Toronto. ....

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