Slumping auto output seen hitting Canada economy

Newswire

TORONTO, Jan 30 (Reuters) - The sharp decline in vehicle production in Canada will reduce the country's economic growth by more than 1 percentage point in the opening months of 2009, Scotia Economics said in a report on Friday. Bank of Nova Scotia's research unit said the U.S. economy would take an even bigger hit, estimating that lower vehicle production levels there would carve 2.5 percentage points out of economic activity in the first quarter. Auto sales slid 35 percent from year-ago ...

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