Financial Post: Canada’s economy practically grinds to a halt — and nobody saw it coming
Data reveals much bleaker picture than anyone anticipated with weakness extending well beyond the energy sector
Canada’s economy practically came to a halt in the final three months of 2018, in a much deeper-than-expected slowdown that brings the underlying strength of the expansion into doubt.
The country’s economy grew by just 0.1 per cent in the fourth quarter, for an annualized pace of 0.4 per cent, Statistics Canada said Friday from Ottawa. That’s the worst quarterly performance in two and a half years, down from annualized 2 per cent in the third quarter and well below economist expectations for a 1 per cent annualized increase.
Read more ....
WNU Editor: In 2017, Prime Minister Justin Trudeau boasted about leading the strongest economy in the Group of Seven. But now he is overseeing one of the weakest. My analysis on what is happening is simple. The federal government's energy/resource policies have stopped any growth in this vital economic sector, and in fact has contracted it to a level not seen for a long time. What is also more worrying to the Federal government is that income growth for individual Canadians has stopped. The political consequences are obvious. These type of numbers .... if they continue .... will guarantee an election loss to Prime Minister Trudeau when Canadians go to the polls later this year.
More News On The Canadian Economy
Canadian economic growth slowed in the fourth quarter -- CTV
Canada's economy shrank by 0.1% in December -- CBC
Canada's economy is barely growing, putting stimulus on the table -- Yahoo News
We're getting a look at the true state of Canada’s economy — and it’s no world beater -- Financial Post.
