Canadian economy didn’t grow in last quarter, latest numbers show

Ottawa –

of Canadian economy remains flat in Q4 Following five consecutive quarters of growth, it shows a more severe slowdown than expected.

According to Statistics Canada, real gross domestic product was unchanged in the last three months of 2022 despite higher household and government spending and a strengthening of Canada’s trade position.

Real GDP was weighed down by slowing business inventory accumulation and lower real business investment.

The report shows a much darker economy than forecasters expected, as rising interest rates have a more pronounced impact on the economy.

The economy shrank by 0.1% in December as the industries that produced the goods declined.

However, the economy recovered in January, with real GDP increasing by 0.3%, according to preliminary estimates from Statistics Canada.

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