The Canadian economy just posted the best three month streak on record.
Growth is at an annualized clip of 40.5 percent, with household spending fueling the increase. The last record for quarterly growth in GDP was 13.2 percent in 1965. As the lockdowns lifted and restrictions were loosened on the country, the economy’s relief valve of consumer spending was opened as well. Statistics Canada reported a substantial increase in the country’s housing market due to record low interest rates.
Statistics Canada reported a substantial increase in the country’s housing market
Households are spending more on goods such as cars, as consumer spending skyrocketed. The spending is only five percent under the pre-pandemic peak but is steadily rising. If you and your family want to live in a land of opportunity, contact Become A Canadian today. Their team of professionals will help you apply for the required visa to live and work in Canada. You can begin living your dream!
A senior economist suggested the focus will be on returning those living in Canada to a more normal way of life. As things return to a type of normal, spending habits will help the Canadian economy. Prime Minister Justin Trudeau said the positive third-quarter numbers showed that federal spending had aided families and businesses during the pandemic.
He knows there are tough times ahead, but promised to be there for those hit hardest by the Covid-19 crisis. Immigration to Canada is not always an easy process, but it is possible when letting Become A Canadian help you and your family. They will help you achieve your dream of living in Canada.
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