The Statscan report showed a grimmer economy than forecasters expected as higher rates took a toll
Wage demands could moderate with economy in “middling phase”
Britain dodged two consecutive shrinking quarters, GDP grew 0.4% in 2022
Output should grow 2.9%, global inflation should fall to 6.6%
3.5% growth could mask private consumption contraction
Annualized Q4 growth at 1.6%, slowdown in housing-related orders
Most economists expect a continued slowdown in Q1
Job vacancy rates continue to decline, but remain high
Gains in spectator sports, decline in mining, oil and gas
The result was unexpectedly strong amid inflation and rising interest rates