A welder works at the Volvo Group-owned Prevost factory in Sainte-Claire, Quebec, Canada, on Friday, May 5, 2023. In Quebec City, the local unemployment rate hovers around 2.5%, near the lowest of any North American city over 500,000 people.
Canada's economy is showing clear signs of a slowdown, as the total value of all goods and services sold was essentially unchanged in July and August — and likely September, too.A welder is seen working at the Volvo factory in Sainte-Claire, Que., in May of this year. Data from Statistics Canada suggests Canada's economy hasn't expanded since that month.
Final numbers for September are not yet available, but early indicators suggest the trend continued into September. That means there's a good chance that Canada's economy has not grown in any meaningful way since May. The data agency previously reported that the economy shrank in the April-to-June quarter, so the numbers released Tuesday suggest that Canada's economy hasn't grown for at least two quarters in a row.
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