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canadian economic growth News

Canadian economy declines by 1.6 percent in second quarter

Ottawa - In contrast to the first quarter when the Canadian economy grew by an annual rate of 2.5 percent the second quarter turned in a dismal performance with a decline of 1.6 percent at an annualized rate.

OECD reduces growth prediction for Canadian economy

Ottawa - The Organization for Economic Co-operation and Development has lowered its forecast for growth in Canada and also globally as new investment remains sluggish, unemployment high, and consumers reluctant to spend.

Both IMF and Bank of Canada lower growth predictions for Canada

Ottawa - Mark Carney, Governor of the Bank of Canada, lowered economic growth expectations for the first and second quarters in Canada. The IMF also predicted a lower growth rate as well.

Canadian Prime Minister to skip World Economic Forum

Ottawa - Last year Canadian Prime Minister Stephen Harper criticized U.S. and European economies from the World Economic Forum in Davos, Switzerland. At that time, Harper utilized the event to boast of Canada’s speedy recovery and fiscal prowess.

Canadian economic growth slows in third quarter

Ottawa - In the July-September, third quarter, Canada suffered the largest drop in exports in three years. The economy grew at a 0.6% annual rate compared to 1.7% in the first two quarters.

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