Latest Economic outllok that is good to keep an eye on!

HIGHLIGHTS OF THE WEEK

United States

•    Markets posted a spectacular rally this week.  As of noon Friday, the Dow was poised to rise a cool 831 points (or 7.4%) from last week.

•    Policy makers provided much of the fuel for the rally.  In the developing world, China and Brazil both cut their policy rates in a bid to combat slowing economic growth.

•    This biggest policy maneuver, however, came when leading developed world central banks announced plans to expand and enhance their currency swap lines.

•    Meanwhile, the stream of decent U.S. data continues to trickle in, bucking the global trend of slower growth. 

Canada

•    A decisively positive week for equity markets was driven by several international developments to support Europe’s troubled economies.

•    Q3 growth numbers for the Canadian economy were very positive, though cracks appear to be forming in the recovery. This was highlighted by a 19,000 net job loss in the labour market and was the second consecutive monthly decline.

•    In the coming quarters, TD Economics assumes that the economic growth in Canada will slow to a modest rate. However, uncertainty remaining a key theme as much remains dependent on what response is taken by European leaders to the escalating sovereign debt crisis.

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