Should be a good bell weather sign that a global slow down is priced in for the final 3mths of 2010 going into 2011
WSJ Sept 29 2010
" OTTAWA (Dow Jones)--Canadian Finance Minister Jim Flaherty said Wednesday that July's gross domestic product figure may be "a bit negative." Statistics Canada will release the data at 8:30 a.m. EDT Thursday. The market expects output to have contracted 0.1% in light of soft retail, wholesale and manufacturing sales data. A weak figure may cause the Bank of Canada to hit the pause key on rate hikes after three consecutive increases. "We may see a figure for July tomorrow that's a bit negative, but in July a lot of things happened in Canada, like the introduction of the HST (harmonized sales tax) in two of the largest provinces and a 2% increase in the sales tax in the province of Nova Scotia. So there are reasons for that," Flaherty told reporters after Question Period in Parliament."
No comments:
Post a Comment