Canada's economy flatlined in August, minor contraction seen in third quarter

Explore stories from Atlantic Canada.

SaltWire's Atlantic regional weather forecast for October 31, 2023 | SaltWireOTTAWA - The Canadian economy flatlined in August, underperforming expectations, and it likely contracted slightly in the third quarter, Statistics Canada data showed on Tuesday.

The statistics agency said high interest rates, inflation, forest fires and drought conditions weighed on the economy in August. While likely to be revised, if those figures are confirmed next month, it would the second consecutive quarter of negative growth after an unexpected contraction in the three months ended June.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

SaltWire Network /  🏆 45. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Twelve dead after plane crashes in Brazil's Acre stateExplore stories from Atlantic Canada.
Read more »

Data scarce on what green energy transition will cost Nova ScotiansExplore stories from Atlantic Canada.
Read more »

Israel summons Russian ambassador to protest at Moscow's hosting of HamasExplore stories from Atlantic Canada.
Read more »

Ukraine eyes global peace summit this year, says deputy foreign ministerExplore stories from Atlantic Canada.
Read more »