👉Canada's economy grew at an annualized rate of 2.1% in the second quarter, surpassing expectations, but growth per person declined for the fifth consecutive quarter. Statistics Canada's report highlighted gains in government spending, business investment, and household services, while exports, residential construction, and goods spending fell. Economic momentum weakened in June and likely remained flat in July. The Bank of Canada may reduce interest rates to 4.25% amid signs of economic fragility. Unemployment rose to 6.4% in July, with youth and recent immigrants hit hardest. Per-capita household spending dropped by 0.4% due to high interest rates and strong population growth.✅ . 𝐍𝐚𝐯𝐢𝐠𝐚𝐭𝐞 𝐲𝐨𝐮𝐫 𝐡𝐨𝐦𝐞 𝐣𝐨𝐮𝐫𝐧𝐞𝐲 𝐞𝐟𝐟𝐨𝐫𝐭𝐥𝐞𝐬𝐬𝐥𝐲 𝐰𝐢𝐭𝐡 𝐊𝐚𝐦𝐚𝐥, 𝐲𝐨𝐮𝐫 𝐝𝐞𝐝𝐢𝐜𝐚𝐭𝐞𝐝 𝐆𝐓𝐀 𝐑𝐞𝐚𝐥𝐭𝐨𝐫. 𝐂𝐚𝐥𝐥: +𝟏 (𝟔𝟒𝟕) 𝟔𝟕𝟑-𝟑𝟓𝟏𝟔 𝐄𝐦𝐚𝐢𝐥: 𝐤𝐚𝐦𝐚𝐥@𝐭𝐡𝐞𝐜𝐚𝐧𝐚𝐝𝐢𝐚𝐧𝐡𝐨𝐦𝐞.𝐜𝐨𝐦 @kamalpillai_realtor . . #CanadianEconomy #GDPGrowth #InterestRates #Unemployment #HouseholdSpending #BoC #EconomicOutlook #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉Statistics Canada revealed that the Canadian economy experienced a significant annualized growth of 3.1% in Q1 2023, surpassing the agency's own projection of 2.5%. With April witnessing a 0.2% growth following a stagnant March, the economy's continued resilience is fueling talks of a potential interest rate hike. The federal agency attributes the growth to increased exports and household spending during the first quarter. The robust growth in the Canadian economy during Q1 reflects positive momentum and surpasses expectations. This encouraging performance may signal a favorable outlook for the country's economic recovery and generate optimism among policymakers and businesses alike.✅ . . #CanadianEconomy #Q1Growth #ResilientEconomy #InterestRateHike #Exports #HouseholdSpending #PositiveMomentum #mnm #malayalisnearmeapp #canadaupdate #canadanews