After a lackluster performance in the second quarter of 2023, Canada’s economic growth is predicted to make a gradual recovery and reach 1.4 percent in the third quarter, according to the latest Main Street Quarterly report released by the Canadian Federation of Independent Business (CFIB).
“Key macroeconomic indicators, such as GDP, retail sales and inflation, appear to be moderating,“ said Simon Gaudreault, CFIB’s chief economist and vice president of research. ”We forecast that Q3 inflation, both total and core, will be within or likely very close to the Bank of Canada’s inflation-control target range of 1 to 3 percent.”
