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Stocks
As economic pessimism lingers, the Canadian stock market is up, but only slightly over the past year. However, the 5-year growth rate is about 30%.
Inflation
Global commodity prices stabilized almost a year ago, which is why inflation has been on the way down since last summer. Only time will tell us if the target of 2% will be met before 2024.
Unemployment
After a devastating spike from the COVID pandemic of 2020, unemployment is down to near record low levels, which is one of the biggest strengths of the Canadian economy.
Interest Rate
Inflation is dropping quickly, but not quickly enough for the Federal Reserve. If they raise the interest rate higher, the consumption-driven Canadian economy will be more at risk for recession.
Economic Growth
There is no recession as long as there are not two consecutive quarters of negative growth. This is good news, considering there hasn't been a negative quarter in two years.
Wage Growth
Canada saw impressive wage growth during its COVID stimulus CERB payments. But ever since they ended, Canada’s wages are growing at a meager pace again.
Productivity
Growth in Canada’s productivity is almost zero over the past five years. Yikes.
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