OTTAWA - Is the optimism about the economic recovery already waning?

Stunningly poor economic results in the past week - and lack of progress over the weekend at the G7 finance ministers meeting - have cast a shadow over the long-term sustainability of the economic recovery and even whether the next few months will be as rosy as hoped.

Talk of a strong V-bounce this year with growth rates of four, five and even six per cent has gone silent since Canada reported last week that the economy stalled in July and the U.S.