# Canada's economy on track for recession

> Statistics Canada data showed GDP essentially unchanged in September, with mining, oil and gas and utilities down. Capital Economics says a flat September would put Q3 at an annualized 0.1% contraction, creating a technical recession after a 0.2% drop in Q2.

- Date: 2023-10-31 · published 2023-10-31T12:00:00.000Z
- Category: report · region Canada · magnitude low
- Page: https://feedsoft.ai/events/33852-canada-s-economy-on-track-for-recession
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Slowing Canadian activity supports the view that the Bank of Canada is finished hiking, which tends to limit currency strength and domestic demand for feed inputs.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- financialpost.com: https://financialpost.com/economy/canada-headed-for-recession/

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