Canada Economy Still Hot As Growth Tops 3% in Q1 - 2023

[Economy 52,844]

Even while on Vacation in Portugal Imma check GGD and post news

 

Anyway: https://www.bnnbloomberg.ca/what-slowdown-economy-continues-to-outperform-1.1926930

 

Canada's economy grew 3.1% in Q1 of 2023 defying yet again anticipations of a slowdown and beating the Bank of Canada's own predictions of 2.5% growth

 

The stronger than anticipated growth, resilient job market and persistently high inflation is increasing the probably that the 4.5% interest rate which has been paused for a while at that level to see how economy reacts may have to go up once more either in June or July

[bionic 50,111]

Canada's economy growing like Padam Padam on the charts. We stan  

[Pennywise 36,080]

Is it hot? Is it serving ****? Should we stan? 

[jylee 66]

Is the economy actually growing or is it just from people selling ever more expensive houses back and forth 🙃

[Economy 52,844]

14 minutes ago, jylee said:

Is the economy actually growing or is it just from people selling ever more expensive houses back and forth 🙃

Im not sure if house sales are counted as part of GDP. I guess it must be. But either way even tho house prices are high sales are still not back up to all time highs since increase in interest rates so housing wouldn't explain this

 

Tbh I think population growth (which is growing very strongly) is the majority of this cuz on a per capita basis the GDP Per Capita has grown very slowly and the unemployment rate is staying mostly unchanged