Canada’s Economic Growth Slows, Investment Falls

Consumers are also cutting back on spending.

Canada’s economic growth has slowed down to 2%, the slowest rate of growth in the past two years.

A big driver of the decline in growth is a slowdown in consumer spending, which increased by just 1.2%.

Overall domestic demand fell 0.1% in Q3.

Business investment was down 7.1%, while residential investment fell 5.9%.

The struggles facing the Canadian oil industry are also having a negative impact on the economy.

And this is all before the federal carbon tax officially takes effect. The tax has already been implemented in some provinces, and the prospect of Trudeau’s carbon tax has already hurt investment, as our competitive position relative to the United States has fallen precipitously.

Justin Trudeau inherited a strong economy from the Harper Conservatives. The budget was balanced, taxes were low, and there was a great opportunity to build on that foundation. But instead of building on it, the Trudeau Liberals increased taxes, slammed the energy industry with more regulations and restrictions, put Canada massively into deficits, and squandered the good economic position they were given.

Now, Canada’s economy is slowing, the energy sector is fighting for its life, and our debt has surged. The prospect of a crisis is growing.

Spencer Fernando

Photo – YouTube

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greg
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greg

Yup I have been warning that Canada is in trouble for 2 years now because you could see this coming.
I’m afraid that the presence of Ford and next spring Jason Kenney will be to little to late to dig us out of
trouble (very possibly a recession in 2019).
My family has already officially put the brakes on any non-essential spending to help ride it out.

Del
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Del

Gee, mummy, what should I be doing because Canada isn’t failing fast enough?

I don’t know, Justin. Let’s go see one of your fathers in Cuba. First, lets make sure we have enough dope on the plane. Lucky we don’t have to cross the border legally. By the way, Justin, you didn’t go and do something stupid like renew your passport, did you? They are worthless so why waste taxpayer’s money. Send it to Hamas like you usually do.

Marian
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Marian

For all these Liberal supporters you have made a change that is devastating ! Not better

shawn harris
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shawn harris

As the evidence of Trudeau’s mismanagement of our economy mounts, he can no longer claim that the economy is strong. No economy can grow and expand, create wealth, jobs and prosperity, when you increase taxes, declare small businessmen to be tax cheats, increase regulations and deliberately try to permanently phase out the oil industry and then pit west against east by favouring Quebec businesses with our tax dollars, while watching the oil industry die, and have any hope whatsoever that the economy will stay strong and grow. But these are the results you will see when a government chooses socialist… Read more »