All that recession talk just got real. Statistics Canada reported that gross domestic product dropped at an annual rate of 1.1 per cent in the third quarter, much weaker than the Bank of Canada predicted in its most recent forecast.
One bad quarter doesn’t herald a significant downturn, especially with the jobless rate at 5.7 per cent, a low mark by historical standards. That will depend on whether businesses, households and their creditors opt to push through the headwinds from higher interest rates or decide to retrench.
Here are key numbers to consider to help navigate the months ahead: