15-04-2025
Tracking Canada's economic health
Canada faces economic turbulence — again. Follow the country's progress at a glance
Wendy Martinez/CBC illustration
By Graeme Bruce
Canada's economy is in uncharted waters. After navigating the COVID-19 pandemic and a period of high inflation, the global trading system was upended when U.S. President Donald Trump imposed destabilizing tariffs on countries worldwide.
Trump's stated aim to bring manufacturing back to the U.S. has meant the world's economic deck of cards has been shuffled. Canada's future remains uncertain. As new data emerges, CBC News is tracking key economic indicators to provide a clearer picture.
Inflation
Inflation — the year-over-year change in consumer prices — is one of the most important indicators, and its effects are felt by virtually every Canadian. The Bank of Canada aims to keep inflation between one and three per cent.
Jobs
How many people in our economy are unable to find work? Which sectors are expanding their workforce, and which are cutting jobs? These are key indicators of economic activity.
Changes in trade and production could reshape Canada's workforce. As the country navigates shifting economic conditions, some sectors will feel the impact more than others.
GDP
Our gross domestic product is the value of everything we as Canadians produce — both goods and services — and offers a high-level score of how the economy is doing.
Statistics Canada reports GDP on both a monthly and quarterly basis. A recession is commonly defined as two consecutive quarters of declining GDP, though economists may also consider other factors, such as employment trends and broader economic conditions.
The dollar
A weak dollar has widespread effects on the Canadian economy. It means that goods we import are more expensive, while exporters who get paid in U.S. dollars bring in more money.
The markets
Markets are not all-knowing, but they provide an almost real-time gauge of economic sentiment. More practically, many Canadians have investments tied to market performance, meaning fluctuations can have a direct financial impact.
A decline of 10 per cent to 19.9 per cent from a recent high is considered a market correction, while a drop of 20 per cent or more signals a bear market.
Interest rate
The Bank of Canada sets the interest rate as its primary tool to manage inflation and steer the economy. By influencing borrowing costs, interest rates affect consumer spending, business investment and overall economic growth. In recent years, Canadians have felt the impact of high interest rates as the country grappled with surging inflation.
Development: Graeme Bruce, Andrew Ryan
Design: Graeme Bruce, L.J. Cake, Wendy Martinez
Data sources: Statistics Canada, Yahoo Finance, Bank of Canada.
With files from CBC News
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