EDC Economist, Peter Hall, Shares Economic Outlook at Evening with Innovators Alliance

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Innovators Alliance hosted a cautiously optimistic Peter Hall, Vice President & Deputy Chief Economist from Economic Development Corporation (EDC) this week, as he shared his economic outlook for 2008 with more than 75 CEOs of the fastest-growing companies in Ontario.

Innovators Alliance hosted a cautiously optimistic Peter Hall, Vice President & Deputy Chief Economist from Economic Development Corporation (EDC) this week, as he shared his economic outlook for 2008. Hall shared his forecast with more than 75 CEOs of the fastest-growing companies in Ontario.

"This forecast is certainly a more optimistic perspective than I would have shared two weeks earlier," Hall said in his opening comments. "But there is still a heightened uncertainty and the next several months are very difficult to forecast."

The radical changes that occurred throughout the latter part of 2007 have made it clear that there is definitely a spreading slowdown. Hall discussed the significant risks that could drive the economy either up or down -- from the housing market, to links between global economies and the likelihood of further significant financial market shifts. He also shared what many of EDC's clients are doing to brace for the inevitable slowdown, including just trying to tough it out, diversification, discounting or productivity innovations.

"Economic growth is unlikely," Hall acknowledged. "It's time to brace for a period of weakness, volatility and increased competitive pressure."

The group of passionate, highly focused entrepreneurs that form Innovators Alliance hotly debated in the issues Hall raised and shared the impact that the economy is already having on their businesses. In spite of uncertainty heading into the new year, this group plans to continue the growth focus in 2008.

Innovators Alliance facilitates the exchange of ideas and experiences to foster economic growth and a more entrepreneurial culture. The member companies meet monthly at 7 chapters across Ontario.

For more information on Innovators Alliance or the Evening with Innovators, please contact:
Lisa Kember
Hyperactive Communications
905.278.5500 x 222

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Lisa Kember