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By 2024, Canada experienced a significant economic divergence from the United States, marking a departure from decades of parallel growth. This shift became particularly pronounced after 2022, with Canada's per-capita national income falling to approximately 70% of U.S. levels, down from 80% just five years earlier.
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.
The IMF concluded that "Canada runs the highest risk of mortgage defaults among advanced economies" in their June 2023 report comparing 38 countries. [70] Canada's residential housing stock was valued at 3.1 times GDP in 2023 after peaking in 2022. [71] By October 2023, housing sales had slowed (-17% compared to pre-pandemic) while prices ...
Alberta's hopes of a rebound this year for its long-struggling oil industry have been dashed by a crash in global crude prices, dragging down producers' stocks and leaving the Canadian province's ...
The COVID-19 pandemic had a deep impact on the Canadian economy, leading it into a recession. The government's social distancing rules had the effect of limiting economic activity in the country. Companies started mass layoffs of workers, and Canada's unemployment rate was 13.5 percent in May 2020, the highest it has been since 1976. [1]
Since the Great Depression, there have been 14 recessions, which are part of the normal economic cycle. Economists keep waffling on whether or not the U.S. is going to head into one in 2024 after ...
Freeland, who was appointed Canada's tenth deputy prime minister in 2019, following the re-election of Trudeau's government, and the country's first female finance minister in 2020, was often nicknamed the "minister of everything", and widely seen as a potential successor to Trudeau for the leadership of the Liberal Party.
Everything to know about the 'Crying in H Mart' movie adaptation, based on Michelle Zauner's 2021 memoir. ... Here’s to hoping the film picks up again soon. This story will be updated.