Canada’s growth slows to weakest pace in almost four years as economic woes bite

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The last time growth was this bad was during the Fort McMurray fires

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OTTAWA — Canada’s economic growth slowed to an annualized rate of 0.3 per cent in the fourth quarter, the worst performance in almost four years, thanks in part to strikes, bad weather and shutdowns, Statistics Canada said on Friday.

“This entire report is not likely to have much of an impact simply because the world has changed so much in recent weeks,” said Doug Porter, chief economist at BMO Capital Markets. In an indication of challenges to come, Statscan said producer prices dropped 0.3 per cent in January, in part because coronavirus was hitting demand for oil, one of Canada’s main exports. Raw material prices fell by 2.2 per cent for the same reason.

Household spending on services jumped by 0.8 per cent over the third quarter while business investment in machinery and equipment fell by 3.6 per cent, the third consecutive decline. Export volumes dropped by 1.3 per cent.

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Of course, we have never had strikes or bad weather before. These simply quickened the economic race to the bottom. This is a Genuine Made in Canada by Trudeau creation. How are the Trudeau and Morneau Yokels gonna keep up their money blowing ways now?

Weird. Best bonus year ever in cash and stock options. Only gonna get better when the economy rebounds. Ch ch ch cha ching!!!!! Rich get richer all others too busy whining.

Our many industry produces weed

Weird just saw Justin trujoke post that the economy is strong. Someone is lying, take a guess who?

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