Markedly increased incentives induced a sharp rebound in motor vehicle sales by the end of the month that has carried apparently undiminished into the first half of October. However, many retailers of other consumer goods report that sales have only partially retraced the steep drops that occurred in midSeptember. Fortunately, air freight is largely back to normal.
Mr. Thiessen discusses international developments and the prospects for the Canadian economy Notes for remarks by the Governor of the Bank of Canada, Mr. Gordon Thiessen, in Saint John, New Brunswick on 5/2/98. A year ago, in early 1997, prospects for global economic growth were very promising.