Canada Avoided Recession With Modest Growth at End of 2023

Canada Avoided Recession With Modest Growth at End of 2023
Statistics Canada signage is seen in Ottawa on March 8, 2019. The Canadian Press/Justin Tang
Jennifer Cowan
Updated:
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Canada yet again dodged the recession bullet after posting modest fourth-quarter growth in 2023, making it likely the Bank of Canada will hold the line on interest rates.

Real gross domestic product (GDP) increased by an annualized rate of 1 percent, according to a new report from Statistics Canada. The increase surpassed the expectations of both economists and the central bank.