Arab Canada News
News
Published: April 30, 2024
The GDP in Canada rose by 0.2% in February 2024, driven by a recovery in the transportation and storage industry, which saw the largest monthly increase recorded in over a year at 1.4 percent.
Canada has so far avoided the recession that many economists fear will occur after the Bank of Canada began a cycle of interest rate hikes.
The strong population growth has supported the economy even as interest rates rise, leading to a slowdown in
consumer demand and business investment.
The Canadian economy grew at an annual rate of 1 percent in the fourth quarter, but it contracted on a per capita basis.
The Bank of Canada will monitor today's economic growth figures as it tries to determine the right time to start lowering interest rates.
Friday, 04 July 2025
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