National

Economy remained flat in August says Statistics Canada

Darpan News Desk The Canadian Press, 31 Oct, 2023 11:01 AM

Statistics Canada is reporting the economy flatlined in August as higher interest rates, inflation, forest fires and drought conditions weighed on the economy and its preliminary estimate suggests the economy shrank at an annualized rate of 0.1 per cent in the third quarter.

That would follow a contraction in the second quarter.

The report says eight out of 20 industries grew in August, including wholesale trade and mining, quarrying as well as oil and gas extraction.

Agriculture and forestry, manufacturing, retail and accommodation and food services all shrank.

Prev Next

MORE National ARTICLES

Cabinet ministers leave retreat without new plans to address housing crisis

Prime Minister Justin Trudeau says the housing challenge "has been decades" in the making and promises the government is focused on "getting more housing built". A news Leger poll suggests four in 10 Canadians blame the Trudeau government for the housing crisis.

Cabinet ministers leave retreat without new plans to address housing crisis

B.C. wildfires: Drenching rain may bring relief, but also localized 'debris flows'

The BC Wildfire Service says 120 wildland firefighters and 105 structural firefighters are deployed to that blaze, while heavy smoke in the area continues to prevent the use of fixed-wing water bombers to combat the fire.

B.C. wildfires: Drenching rain may bring relief, but also localized 'debris flows'

Surrey pedestrian dies after being struck by a pickup truck

A Surrey man is dead after he was struck by a pickup truck while trying to cross a highway between intersections. Surrey R-C-M-P say the victim was hit by a westbound Ford pickup on Highway 17 in the Whalley area at about 4 p-m yesterday.

Surrey pedestrian dies after being struck by a pickup truck

Generosity of local businessman, Bobby Pawar, gets Langley Food Bank a bigger space

Food bank reps such as Calamunce approached Pawar to buy their building so the Food Bank could expand and meet the needs of many of the less fortunate in our communities.

Generosity of local businessman, Bobby Pawar, gets Langley Food Bank a bigger space

Youth charged in Surrey stabbing

On August 18th of last year Surrey RCMP responded to an assault in progress at the intersection of 184Street and Fraser Highway and found 45-year-old victim Leroy Billy suffering from stab wounds. Billy was transported to hospital, where he died of his injuries.

Youth charged in Surrey stabbing

Canada must explore links between immigration, housing crunch: Marc Miller

The housing crisis is a chief topic of conversation at the retreat, which comes as the federal Liberals prepare their agenda for the fall sitting of Parliament. The Canada Mortgage and Housing Corp. estimates Canada needs about 5.8 million new homes by 2030 to restore housing affordability.