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Canada's economic position has shifted dramatically since the 1980s, when it maintained a nearly US$4,000 advantage in per capita GDP compared to an average of "advanced" economies, including the United Kingdom, the United States, France, Germany, Italy, and Japan.
Canada’s economy has already showed vulnerability coming out of a period of inflation, causing the country’s central bank to cut interest rates much faster than the Federal Reserve. That gap ...
Canada's tourism and air travel sectors were hit especially hard due to travel restrictions. [4] Some farmers feared a labour shortfall and bankruptcy. [5] The pandemic affected consumer behaviours. In the early stages of the pandemic, Canadian grocery stores were the site of large-scale panic buying which led to many empty shelves.
Canada's last housing busts happened during the early 1990s recession, when Canada was facing low commodity prices, [20] a large national debt and deficit that was weakening the value of the Canadian dollar, the possibility of Quebec independence, and a recession in Canada's main trading partner, the United States.
"Canada is a very bad abuser," he said of the world's largest importer of American goods on his first day in office. "Canada very much so," he added of their supposed abuses on day two.
An unimpressed Alberta premier, Danielle Smith, one of Trudeau's biggest domestic critics, said the provincial leaders had only learned halfway through their call that the point person on Canada-U ...
However, in the wider economy, Canada was surprisingly unhurt by these events. While growth slowed, the economy never actually entered a recession. This was the first time that Canada had avoided following the United States into an economic downturn. The rate of job creation in Canada continued at the rapid pace of the 1990s.
To use more economic lingo, slackflation is when inflation is sticky — but not out of control— and there’s slack in the economy (nothing to do with the messaging app that has an incredible ...