Economy avoids recession this year

Third-quarter GDP growth appears to have picked up to about 3.0% annualised, in part due to the rebound in industrial production, which has fully recovered from the temporary supply disruptions and weather related disasters earlier this year. This rebound is reflected in the very strong growth in third-quarter exports, which boosted GDP growth in the quarter. Although this means that, after a second quarter dip in GDP, Canada's economy has avoided a 'technical recession', the slowing global economy points to much slower economic growth ahead, with the risk of a recession next year creeping higher.