January Economic Numbers


CBJ – Figures released by Statistics Canada reveal the country’s economy shrank by 0.1% in January, which was actually a better showing than most economists had been expecting.

Bank of Canada Governor Stephen Poloz had recently warned that the huge drop in crude oil prices was having an “atrocious” effect on Canada’s economy.

The consensus estimate was for a 0.2% decline in gross domestic product for the first month of the year.


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