Canada’s Economy Dropped By 0.3% in 3rd Quarter — Statistics Canada

In the three months leading to September, Canada’s economy dropped by 0.3%, attributed to stagnant household spending and a decline in exports, as reported by Statistics Canada. 

This marks a consecutive quarterly contraction, meeting the threshold some experts consider indicative of a recession. Notably, the agency revised its initial report on the April-to-June period, stating the economy grew by 0.3% during that quarter. 

This adjustment affects the assessment of whether Canada has officially entered a recession. The fluctuating economic indicators underscore the challenges and nuances in gauging the country’s economic health amid global uncertainties.

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