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Canadian economy remains flat

Published by Steve Coleman on November 01, 2011

While Canada may have eliminated recessionary fears with three-straight months of growth, economists aren't exactly jumping for joy.

The economy grew 0.3 per cent between July and August on the strength of oil and gas extraction.

While the economy is growing, the Bank of Canada says the recovery isn't enough to prompt rate hikes anytime soon. A weak U.S. economy and debt problems in Europe could mean little job creation in the coming months.

Even the International Monetary Fund is warning that external factors could upset the apple cart. Housing prices remain high and Canadians are still carrying too much debt.

Check the following link for a more-detailed Reuters story.



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