# Canada's economy stalls in August; central bank's Q3 growth forecast in doubt

> Canada's economy stalled in August, with GDP flat, as high borrowing costs weighed on business investment and output. The article notes the central bank's third-quarter growth forecast now looks doubtful. The loonie edged higher that day, trading near 1.389 per U.S. dollar.

- Date: 2024-10-31 · published 2024-10-31T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/28114-canada-s-economy-stalls-in-august-central-bank-s-q3-growth-forecast-in-doubt
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Weak Canadian growth points to further central bank rate cuts, which tend to weaken the loonie and shape the currency backdrop for Canadian feed and oilseed exports. The effect on grain and feed prices is indirect.

## Read by commodity

- USDCAD: neutral

## Sources

- reuters.com: https://www.reuters.com/markets/canadas-economy-likely-missed-central-banks-third-quarter-growth-forecast-2024-10-31/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.