Canada’s economic recovery stalls in April

Canada’s economy stalled in April on a slide in retail sales, suggesting the pace of growth is slowing and that the central bank may think twice about raising interest rates again this month.

Statistics Canada said on Wednesday real gross domestic product was flat in the month after seven straight months of expansion and the fastest growth in a decade in the first quarter.

The Canadian dollar sagged after the report, which disappointed market expectations for 0.2 percent growth.

Consumers bought fewer new cars and less clothing in April, sending sales in the retail sector down by 1.7 percent, eroding most of the previous month’s gains.  Read More…

This article has 9 Comments

  1. Blair W.

    We didn’t exactly prosper, rather, we survived but i get what you mean.

  2. Jeremey

    Would look kinda embarassing if our recovery actually tanks after all the talk of our country being one of the few that prospored during this time.

  3. Norman

    CBC this morning was talking all about it and how there may be some troubling times ahead. They were going to speak with the finance minister but i had to leave for work. Anyone catch it?

  4. Lucero Dowell

    Our economy is stronger than it appears. I’ve been studying several data charts as of late and personally, from experience, this is not a big deal. Fluctuations by this amount are normal. I doubt the bank will make any significant changes to their upcoming plans. Nothing to see here.

  5. Khiry M

    July 20 is an important date. Mark your calendars. It is when the central bank will release new adjusted rates. If they don’t raise them at all you know your answer.

  6. Jeffry

    So when will we know if this is a troubling sign or if this is just merely a hickup and nothing to concern ourselves about?

  7. Sawyer I.

    And everyone was all praising us at the G20 this past week on how our economy was the model for the rest of the world. Not so fast partner.

  8. Laken

    I just hope this trend doesn’t last for the rest of the year. My investments can’t take another beating like the last few years.

  9. Ellis M.

    If the central bank is going ahead with plans of another interest rate hike they are in for a rude awakening! Signs of the economy slowing have been noticeable for several months now and our so called leaders have been asleep at the wheel. Let’s hope we are not too late to revive this patient before its too late.

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