Canada’s real GDP will increase by 1.2% in 2023, with multiple factors dragging down economic growth. Despite strong growth in the first quarter of last year, a variety of factors including rising interest rates, inflation, forest fires and droughts, strikes, etc., dragged down the country's overall economic performance.
Statistics Canada released the latest economic statistics on February 29, local time, and pointed out that increased exports and reduced imports drove GDP growth. But a decline in business investment slowed this growth.