Economists Slash Canada Growth Forecasts as Trade War Strikes

Canada is headed for a period of weaker growth and higher inflation as a trade war with the US snarls business investment and exports, economists forecast in a new survey.

The economy will expand at an annualized 0.7% clip in the second quarter of this year, according to the Bloomberg survey of 34 economists. That’s down substantially from the 1.7% pace of growth that was expected between April and June in last month’s survey.