Auto dealerships next casualty of industry slump: analyst

As fewer cars are sold, fewer dealerships will stay in business, says an industry analyst.(Canadian Press)

Auto dealerships next casualty of industry slump: analyst

As fewer cars are sold, fewer dealerships will stay in business, says an industry analyst.(Canadian Press)

Auto dealerships next casualty of industry slump: analyst

As fewer cars are sold, fewer dealerships will stay in business, says an industry analyst.(Canadian Press)

Auto dealerships next casualty of industry slump: analyst

As fewer cars are sold, fewer dealerships will stay in business, says an industry analyst.(Canadian Press)

Harper government plans deficits as deep as $30 billion

Prime Minister Stephen Harper, far right, watches as Finance Minister Jim Flaherty delivers the government's fiscal update in the House of Commons on Nov. 27.(Tom Hanson/Canadian Press)A federal economic stimulus package will likely lead to a deficit in the $20-billion to $30-billion range for the 2009-10 fiscal year, a Prime Minister's Office official told CBC News on Thursday.

Travel abroad slips in October: Statistics Canada

Canadians made 4.2 million trips abroad in October — a decline of 3.2 per cent from the previous month, Statistics Canada said Wednesday.

Overnight travel to the United States in October fell 0.8 per cent from the previous month, the federal agency said. Same-day travel to the U.S. fell 6.7 per cent in monthly comparisons to 1.9 million trips — the lowest level recorded since February 2007.

Meanwhile, travel to overseas countries inched up 1.4 per cent to 679,000 trips — the second-highest level on record.

Budget deficit in 2009-10, Flaherty confirms

Finance Minister Jim Flaherty said Wednesday the federal government will run a deficit in the 2009-10 fiscal year, admitting Canada can't withstand the sinking world economy.

Speaking after a meeting with his provincial and territorial counterparts in Saskatoon, Flaherty said it's quite clear a shortfall can't be avoided given the economic forecasts.

"The budget will be balanced for this … fiscal year. The big challenge is 2009 and going into 2010," he said. "But 2009 is going to be a difficult year for Canada and Canadians and we have to gird ourselves for that."