Arab Canada News
News
Published: November 30, 2023
The Canadian economy contracted in the three months up to September, as household spending remained steady and exports declined.
Statistics Canada reported on Thursday that the country's GDP contracted by 0.3 percent.
The data agency had previously stated that the three months up to June also saw a slight decline, so Thursday's figures would have been the second consecutive quarterly contraction, meeting the criterion that some experts say is a recession condition.
However, the data agency revised its figures from April to June upwards from what was initially reported, and now says the economy grew by 0.3 percent in that quarter.
Thursday, 03 July 2025
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