Shaky U.S. economy is top risk to Canada: Flaherty

Tue Oct 12, 2010 2:16pm EDT
 
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MISSISSAUGA, Ontario (Reuters) - The top risk to Canada's economic recovery comes from weakness in its top trading partner and ally, the United States, Finance Minister Jim Flaherty said on Tuesday.

"The primary risk is the U.S. economy and relatively small growth in the U.S. economy," Flaherty told reporters after presenting an update of the government's fiscal and economic forecasts.

"There are some bright spots in the U.S. economy ... but there is still serious weakness in the U.S. housing and mortgage sector."

(Reporting by Ka Yan Ng and John McCrank; writing by Louise Egan; editing by Peter Galloway)