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Your daily horoscope: December 11, 2025

  IF TODAY IS YOUR BIRTHDAY Give yourself permission to dream and then do whatever it takes to turn that dream into reality. Yours is one of the best birthdays of the entire year, so greet every day with a smile and the determination to be not just good but the best. ARIES (March 21 - April 20): If you would rather be anywhere but where you are now then get up and go some place else. With so much positive activity in your chart no one will be able to stop you leaving – in fact they will beg to come with you! TAURUS (April 21 - May 21): What happens on the work front today will set the tone for the next few weeks, so even if some of your colleagues behave in ways you do not approve of don’t make a fuss about it. You are going to need their support. GEMINI (May 22 - June 21): You may be eager to press ahead with a new plan or project but cosmic activity in your opposite sign warns you must make sure that friends and family members are on your side. Take time to explain to them how th...
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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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