Canadian dollar slumps after GDP report underscores a slowing economy ...Middle East

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Canadian dollar slumps after GDP report underscores a slowing economy
source : forex live ( Middle East ) () 52
The Canadian economy grew at a 1.0% annualized rate in Q1, which was in-line with forecasts but a further drilling down in the data highlights a troubling trend. GDP was flat in August, then grew just 0.1% in Sepemteber and the advance estimate for October was +0.1%.The slowly pace of growth is further compounded by plans to shrink the population in 2025 and 2026. Canada has relied on rapid population growth to spark economic growth, leading to a sharp turn in public sentiment around immigration. On a per capita basis, Canadian GDP fell 0.4% in the third quarter, which was the sixth consecutive quarterly decline.With population set to fall and the housing market struggling due to high rates,

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