We apologize, but this video has failed to load.Real business investment also declined for a third consecutive quarter as higher interest rates weakened housing investment in 2022.But the report includes some silver linings for Canadians. After declining by 0.1 per cent in the third quarter, household spending bounced back by 0.5 per cent in the fourth quarter. Household disposable incomes also rose faster than their nominal spending, allowing them to save more money.
The report partly attributes this improvement in household finances to government benefits, including the one-time top-up to the GST tax credit and a 10 per cent increase in Old Age Security payments for seniors aged 75 years and over.Article content A preliminary estimate from Statistics Canada suggests the economy bounced back in January, posting 0.3 per cent growth in real GDP.But most economists expect the Canadian economy won’t be able to avoid a recession in the first half of the year as higher interest rates dampen spending.
The central bank contends a slowdown is necessary to bring inflation back down to its two per cent target.
Not sure how inflation is expected to drop almost 3% by “mid-2023” with these mind-numbing energy costs. Truth is it won’t and our new (inflation) normal is exactly where it is now. Thanks to this climate “crisis” 👏🏻👏🏻
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Instant reaction: What the Street is saying after Canada’s surprisingly weak GDP reportThe Canadian economy recorded no growth in the final three months of 2022, massively underperforming expectations 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. It is only surprising to anyone who has not been paying attention.
Source: globeandmail - 🏆 5. / 92 Read more »
Canadian economy remained flat in fourth-quarter, contracted in DecemberStatistics Canada says real GDP was unchanged in the last three months of 2022, despite higher household and government spending as well as a stronger trade position for Canada Unfortunately, wasn't this the intention with the very rapid interest rate increases?
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Canadian economy stalls in fourth quarter, shrinks in DecemberCanada\u0027s economy recorded no growth in the final three months of 2022, massively underperforming expectations. Find out more
Source: financialpost - 🏆 7. / 85 Read more »
Canadian economy stalls in fourth quarter, shrinks in DecemberCanada\u0027s economy recorded no growth in the final three months of 2022, massively underperforming expectations. Find out more And this after spending 750 billion across Canada in debt from government. Only investments you will see now are where corporations are bribed by our tax money from fordnation and CCCP's very own JustinTrudeau. Exception: Alberta where energy strong, that Liberals want closed. We tried to warn you. Now it's to late. With the chairman putting Canadian industry down while demoralizing it’s citizens and loosening the ties of the judicial system, what did we expect. Canada is about to go into a tailspin unknown to our times. That one narcissistic individual could inflict so much pain ! Justice
Source: nationalpost - 🏆 10. / 80 Read more »
Canadian economy slowed by more than expected in Q4, contracted in DecemberStatistics Canada says real gross domestic product was unchanged in the last three months of 2022, despite higher household and government spending as well as a stronger trade position for Canada. Keep sending money to Ukraine. Keep neglecting people's needs at home. Keep finding reasons and funding for more wars. I wonder if 30-year high interest and inflation have anything to do with it? And corporate profiteering? Capitalism in general?
Source: TorontoStar - 🏆 60. / 55 Read more »