TORONTO, Ont. – The TD Bank said Canada currently faces several headwinds, which is keeping the economy from returning to robust growth.
A new forecast from the bank said the economy will continue to grow slowly, while accompanied by high unemployment through to spring 2012.
TD economists said growth will slow to 1.5 per cent in the current quarter, while improving slightly to two per cent in the last three months of 2010.
They added that the crawl will stay at two per cent through next year, which is below the Bank of Canada’s 2.9 per cent estimate.