# Canada's economy stalls in August, seen slipping into recession in Q3 | Reuters

> Statistics Canada data showed the Canadian economy stalled in August, with GDP flat after July, and a preliminary forecast of flat September GDP. Economists see the third quarter likely contracting, possibly tipping Canada into a shallow recession after the Bank of Canada's ten rate hikes.

- Date: 2023-10-31 · published 2023-10-31T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/33847-canada-s-economy-stalls-in-august-seen-slipping-into-recession-in-q3-reuters
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Weaker Canadian demand and a likely end to rate hikes weigh on the loonie and the macro backdrop for North American feed demand, with limited direct grain price impact.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/canadas-economy-flatlined-august-minor-contraction-seen-third-quarter-2023-10-31/

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