Instant reaction: What the Street is saying after Canada’s surprisingly weak GDP report

, surprising Bay Street, where the average forecast had called for 1.5% growth. The reading was also well below the Bank of Canada’s forecast for 1.3% annualized GDP growth in the quarter.

Statistics Canada, however, believes the economy likely started 2023 on a stronger footing, predicting growth of 0.3% in January. “The Canadian economy surprisingly stalled in the final quarter of 2022, but early indications suggest that it started the new year on a better footing.”

It is only surprising to anyone who has not been paying attention.

Canada is in trouble on many fronts. Healthcare is collapsing, many people cannot afford housing, the population is polarized & toxic, the country can’t defend itself and is behind in its NATO obligations. I won’t even mention the national debt.

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