Instant reaction: What the Street is saying after Canada’s surprisingly weak GDP report

The Canadian economy recorded no growth in the final three months of 2022, massively underperforming expectations

, surprising Bay Street, where the average forecast had called for 1.5% growth. The reading was also well below the Bank of Canada’s forecast for 1.3% annualized GDP growth in the quarter.

Statistics Canada, however, believes the economy likely started 2023 on a stronger footing, predicting growth of 0.3% in January. “The Canadian economy surprisingly stalled in the final quarter of 2022, but early indications suggest that it started the new year on a better footing.”

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globeandmail /  🏆 5. in CA

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