Description

• Goods-sector output set to decline by 4% in 2009, led by double-digit drops in auto and residential construction
• Infrastructure-heavy federal and provincial budgets to mitigate the impact of falling homebuilding activity on overall construction
• Similar to past recessions, the nation’s service sector should hold up relatively well
• Still, about half of service industries expected to post declining output in 2009
• A drop of 325,000 net jobs likely this year, with about one-third of those in manufacturing
• In 2010, a moderate recovery in output and jobs is projected