The worst of the economic downturn is ahead of us and these sectors are at risk. Plus, TSX stock picks from top analysts


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Morgan Stanley chief global economist Seth Carpenter warned that “the worst of the global economic slowdown is ahead of us” on a recent edition of the firm’s Thoughts on the Market podcast entitled Tracking the Coming Slowdown. Mr. Carpenter believes there is a “brewing storm” of recession risks worldwide. Thanks to Russia, recession risks are centered in Europe. The higher energy costs resulting from geopolitical factors is a cost shock that will limit growth. There are industries already rationing energy to save costs at the expense of production, contributing to the slowdown. Consumer purchasing power has been sharply curbed by...