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Your daily horoscope: March 25, 2026

  IF TODAY IS YOUR BIRTHDAY With Saturn and Pluto strong on your birthday there will be major challenges coming your way, and that is exactly what you need. The harder you are pushed the more motivated you will be to raise your game and make your dreams come true. ARIES (March 21 - April 20): Don’t waste your time worrying that what you have been working on seems to have hit a wall because it is only a temporary blip and you will soon be steaming ahead again. Today, keep it light and focus on something less challenging. TAURUS (April 21 - May 21): If you focus on what other people say is important rather than what you think is important it will turn out to be a complete waste of your time and energy. Ignore what the naysayers are telling you and follow your instincts instead. GEMINI (May 22 - June 21): You need to be careful what you say today, because with the sun and Saturn joined in the friendship area of your chart your words could stir up a bit of a storm. Resist the urge to c...
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Canada’s economy shrinks in Q3 amid export and consumer woes

 


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Canada’s economy shrinks in Q3 amid export and spending woes

Canada’s economy contracted by 1.1 per cent on an annualized basis in the third quarter of 2023, according to Statistics Canada. This was a much weaker result than expected by analysts and the Bank of Canada, which had forecast a slight growth of 0.1 per cent and 0.8 per cent, respectively.

The main factors behind the economic decline were a drop in exports, a slump in business investment, and a stagnation in consumer spending. Exports fell by 5.1 per cent, reflecting lower shipments of energy products, motor vehicles, and aircraft. Business investment decreased by 10.1 per cent, as firms reduced their spending on machinery and equipment, intellectual property, and non-residential structures. Consumer spending was flat, as households saved more of their income amid rising interest rates.

The only bright spots in the third quarter were government spending, which increased by 7.3 per cent, boosted by a one-time GST/HST credit payment, and residential housing investment, which rose by 8.3 per cent, driven by a surge in new construction.

The Canadian economy also performed poorly compared with the U.S. economy, which grew by 5.2 per cent in the same period. Canada has been more sensitive to the impact of higher interest rates, which have been raised by the Bank of Canada to 5 per cent from 0.25 per cent since early 2022. The central bank has recently signalled that it may pause or reverse its tightening cycle, as inflation has eased and economic growth has faltered.

Some economists believe that the third quarter contraction was a temporary setback and that the economy will rebound in the fourth quarter and beyond. Statistics Canada estimated that GDP grew by 0.2 per cent in October, indicating a modest recovery. However, others warn that the economy may face more headwinds in the new year, such as the ongoing supply chain disruptions, the spread of the new COVID-19 variant, and the uncertainty over the federal fiscal policy.

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