How did Canada’s economy perform in the 4th quarter? StatCan to reveal

By Staff The Canadian Press Posted February 28, 2023 7:52 am 4:45 Interest rate hikes depend on ‘fundamental uncertainties’ in year ahead, Bank of Canada governor warns WATCH – Interest rate hikes depend on ‘fundamental uncertainties’ in year ahead, Bank of Canada governor warns – Dec 12, 2022 Statistics Canada will release December and fourth quarter gross domestic product figures this morning. The federal agency’s preliminary estimate indicated the economy grew at an annualized rate of 1.6 per cent in the fourth quarter, marking a slowdown from previous quarters.In comparison, the economy grew at an annualized rate of 2.9 per cent in the third quarter of 2022.Canada’s rebound from the COVID-19 pandemic led to strong economic growth last year, but the economy is expected to slow in early 2023 amid high interest rates. Trending Now 2:03 Canada’s job surge: How hot economy could affect employers, interest rates RBC says its own credit card data shows spending plateaued in the second half of 2022 as consumers began to face high interest rates and inflation. Story continues below advertisement However, the bank says early data suggests a bounce back in January GDP as the economy added 150,000 jobs. &copy 2023 The Canadian Press Sponsored content Flyers