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Canada's economy has performed well since its mild slowdown in 2001.
A few months ago, Invensys's Mr Yurko was expecting only a mild slowdown in American demand.
The global economy is helped by only a mild slowdown in China and unemployment in India peaks at 2.5m.
So, yes, even a mild slowdown in trading, and an inability to persuade punters to pay higher prices for hotels, can inflict a major hit on profits.
A mild slowdown turned into something much worse after the collapse of Bear Stearns in March 2008 showed the vulnerability of the financial system.
In Germany, the number of unemployed workers rose 6 percent in the first year after the collapse of Lehman Brothers turned a relatively mild slowdown into what became know as the Great Recession.
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The great recession of 2008-09 resulted in only mild slowdowns in most developing countries, so incomes were less affected than was expected: people could afford to keep buying food.
came to Thailand's rescue in August, the fund's experts predicted a relatively mild economic slowdown.
Although Canada has withstood mild American slowdowns in the past, a deeper slump across the border might well bring the loonie, and Canadian pride in it, down to earth with a bump.
Mr. Norris said that by his company's measure, Wyoming had a very mild eight-month economic slowdown.
That would be beneficial for growth in the short run and help ensure that the current slowdown is mild, not steep.
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