Canada's economy has been blooming with health for so long that the slightest flutter tends to inspire chills and fever among the nation's businessmen and politicians. Last week the Bank of Montreal reported that, Canada, like the U.S., was experiencing "mild recessionary tendencies." A slack winter season in coal, steel, textiles and farm implements had pushed unemployment to a postwar high of 312,000 in late February. Foreign-trade experts were mildly concerned as the international trade deficit ($467 million last year) extended into 1954.
But the economy also showed encouraging symptoms of health. Outlays for construction and capital equipment were expected to...
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