11-010-XIB
Canadian Economic Observer
June 2003

Canada

Another outbreak of SARS (severe acute respiratory syndrome) occurred in Toronto, prompting the World Health Organization to relist the city as a SARS-infected area.

Most countries banned imports of Canadian beef after a cow in Alberta was discovered to have BSE, commonly known as mad cow disease.

The federal government announced that crab quotas would be reduced this year in the southern Gulf of St. Lawrence to 17,000 tonnes from 22,000 tonnes last year.

Algoma Steel, recently emerged from bankruptcy protection, announced the layoff of 18% of its workforce to reduce costs in the wake of falling steel prices and rising energy costs.

Weyerhauser, one of the world’s largest forest products companies, announced the temporary closure of four sawmills, including three in Canada, for 4 to 6 weeks.

Bombardier announced a $3.3 billion deal to deliver 85 jets to US Airways Group, which equally split its order between Bombardier and Brazilian rival, Embraer SA.

World

France was paralyzed by strikes of public workers over pension reforms.

The United States passed a 10-year, $350 billion tax-cut package into law.

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