The Canadian economy is still in decline, but the rate of slippage appears to be moderating and a recovery will likely take hold by the end of this year, Bank of Montreal economist Douglas Porter said in a report yesterday.
"Some of the worst monthly numbers are already behind us. ... It may well be the case that the worst declines were in November, December, January and February," Mr. Porter said in an interview.
"The fact that Canada and the global economy are mired in recession ceased to be a debate last year, but the depth and duration of the downturn are still very much in question," he wrote.