Recession Warning? Canada’s GDP Falls

Growth continues to slow, and some months are now showing outright GDP declines.

As fears continue to grow of a possible impending recession in Canada, more bad economic news has arrived.

Canada’s GDP fell 0.1% in October, which followed growth of 0.1% in September.

A key driver of the fall in GDP was a decline in the manufacturing sector of 1.4%.

Notably, BNN Bloomberg points out that Canada appears likely to miss the Bank of Canada’s GDP projections:

“Although the slowdown was expected following disappointing reports for the month across wholesale, factory and retail sales, October’s GDP result will make it harder for the Canadian economy to reach the Bank of Canada’s 4Q forecast of 1.3 per cent annualized”

Canada’s GDP growth has been weakening for months, which has contributed to growing perceptions that our country is nearing a recession.

Survey’s show the majority of Canadians expect an impending recession, and more and more experts are sounding the alarm.

With household debt piling up, wage growth weak, and the cost of living continuing to spiral out of control, Canada’s economy is facing serious problems.

Making the situation even worse is how clueless the Trudeau Liberals are about it, with Trudeau delusionally claiming that his policies are ‘working,’ and while Morneau pathetically attempts to blame the Conservatives for talking about a recession, while ignoring the fact that failed Liberal policies are making a recession much more likely.

Spencer Fernando

Photo – YouTube

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RDP
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RDP

It’s not so much that Trudeau is clueless; it’s that he’s not worried. Neither is Morneau.

Gary major
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Gary major

Trudeau and morneau Fiddle while Canada BURNS!

Sue
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Sue

According to global news “Prime Minister Justin Trudeau has asked Immigration Minister Marco Mendicino in his mandate letter to bring forward a plan to eliminate the fees. Adult applicants currently pay a $530 for processing, and a $100 right-of-citizenship fee. Families have to pay an extra $100 for every applicant under the age of 18.“
Who do you think will be making up those fees?
In a time we will could be affected by a recession, but that makes no never mind to him.
Again we see the vote buying in process by this government.

Sue
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Sue

Globe and mail, excuse my error

NancyW
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NancyW

Merry Christmas and or Happy Holidays everyone.
A not so noticed bad news for Canada and for Trudeau and lieberal followers that the rest of us are having pushed on us, but then according to them the world is ending in ten years now I read, so they are acting accordingly to their happy fake forecast.
The Conservatives are set up to do nothing for the country right now, when this lieberal fail of poor economic policy could become really critical fast.

Miles Lunn
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We are overdue for a recession as in last century, we have never gone a full decade without one so its not a matter of it, just a matter of when. And while deficit may be manageable now, it won’t be win next recession hits and will likely balloon to over $50 billion and that assumes its a mild one. If anything like last one (which I don’t think it will be quite that bad), could go as high as $80 billion. Harper had one of $55 billion in 2008 which was the worst recession since Great depression and at… Read more »