Canada GDP Seen Growing 1.7% In '08

Forex News: Declining exports will limit Canada's economic growth to just 1.7% in 2008, but manufacturers can expect some relief next year, as CAD remains just below parity vs USD, according to the Conference Board of Canada. "Over the last four years, Canada's economy has been a mix of very strong consumer spending held back by a weak trade sector, a trend that has continued right through the early months of 2008," the board said. Luckily for manufacturers, CAD seems to have stopped riding the coat-tails of rising energy prices, and is is expected to remain relatively stable over '08 and '09, just shy of parity, it says.