The Globe and Mail reported yesterday that Ontario’s economy (which is almost 40% of Canada’s economy) is shrinking and may be heading in to a recession. The cause? Just three months ago, economists were projecting that Ontario’s economy would grow 1.2 per cent this year - a consensus forecast that has since been slashed in half in the wake of an unexpected rise in oil prices and plummeting motor vehicles exports to the United States. “We are in some challenging times,” Finance Minister Dwigh
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Ontario economy shrinks, fuelling fears of recession
