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The COVID-19 pandemic had a deep impact on the Canadian economy, leading it into a recession. The government's social distancing rules had the effect of limiting economic activity in the country. Companies started mass layoffs of workers, and Canada's unemployment rate was 13.5 percent in May 2020, the highest it has been since 1976. [1]
OTTAWA (Reuters) -The Canadian economy continued to outpace expectations in October, with a gain also expected in November despite the COVID-19 resurgence and fresh restrictions, data from ...
The Canadian economy grew by a surprise 0.3 percent in January, reversing recent declines as the construction and manufacturing sectors picked up, and likely leaving the Bank of Canada on the ...
The economy expanded by 0.4% in August, missing estimates, and looked set to show no growth in September, when supply chain issues crimped auto exports and retail sales declined, Statistics Canada ...
The Bank of Canada began hiking interest rates on March 2 2022. [63] Later that same month, Oxford Economics forecasted a 24% drop in Canadian home prices by mid-2024, unless higher interest rates and anti-speculation policies fail. Were home prices to rise further (in this latter scenario), a crash of 40% and a financial crisis was to be expected.
Right now, permitting processes examine, in excruciating detail, how one new building will affect rents, noise, traffic, parking, shadows and squirrel populations. But they never investigate the consequences of not building anything—rising prices, displaced renters, low-wage workers commuting hours from outside the sprawl.
In early December 2008, the Bank of Canada, in announcing that it was lowering its central bank interest rate to the lowest level since 1958, also declared that Canada's economy was entering in recession. [9] The Bank of Canada has since announced that it has two consecutive months of GDP decline (Oct -0.1% & Nov -0.7%).
Surging oil and wheat prices are allowing commodities exporter Canada to weather an economic storm threatening to tip many of its fellow G7 rich nations into recession. Russia's invasion of ...