CFIB Predicts ‘Sluggish’ Canadian Economy in First Quarter of 2024

Published on January 25, 2024

The Canadian economy is poised to remain sluggish in the first quarter of 2024, following a period of stagnation in the last quarter of 2023, according to the latest edition of the Main Street Quarterly report released by the Canadian Federation of Independent Business (CFIB). “A real recovery for the small business sector should arrive much later given the enduring poor business environment,” wrote CFIB’s Chief Economist Simon Gaudreault in a Jan. 23 forecast. The CFIB, in collaboration with economic consulting firm AppEco, anticipates that the Canadian economy, which contracted by 0.2 percent in Q4 of 2023, is projected to experience a growth of 0.5 percent in Q1 2024. The Canadian economy grew 0.8 percent in the first quarter of 2023....

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