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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 ...
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 ...
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] Many large-scale events that planned to take place in 2020 in Canada were cancelled or delayed.
From 2003 to 2018, Canada saw an increase in home and property prices of up to 337% in some cities. [2] In 2016, the OECD warned that Canada's financial stability was at risk due to elevated housing prices, investment and household debt. [3] By 2018, home-owning costs were above 1990 levels when Canada saw its last housing bubble burst. [4]
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%).
Canadian factory sales most likely rose 1.3% in October from September, largely driven by higher sales in petroleum and coal product as well as transportation equipment subsectors, Statistics ...
However, in the wider economy, Canada was surprisingly unhurt by these events. While growth slowed, the economy never actually entered a recession. This was the first time that Canada had avoided following the United States into an economic downturn. The rate of job creation in Canada continued at the rapid pace of the 1990s.