Canadian Economy Stalls, Early Signs Point to Looming Recession
-
Canada's GDP was unchanged in July and August compared to May, signaling economic slowdown.
-
Service sector expanded slightly in August but goods-producing industries declined.
-
September early indicators suggest no growth, meaning no increase since May.
-
Economists expect recession in 2024 due to lagging impacts of monetary policy.
-
Weak growth will drive inflation down over time, but pace unclear.