Here is a rewritten version of the article in a neutral tone:
Canadian Businesses Face Challenges Amid Economic Uncertainty
The Canadian economy has been experiencing some turbulence, with various indicators suggesting a decline in economic growth. According to recent data, gross domestic product (GDP) per capita fell for the sixth consecutive quarter in the three months to September.
Economic Growth Slows Down
The economy grew 1% in the third quarter, but this was largely due to population growth. If population growth had returned to pre-pandemic levels, the economy would have shrunk by 0.2%. This suggests that the Canadian economy is facing some significant challenges.
Investment and Profit Decline
Businesses are also experiencing a decline in investment and profit. A recent survey found that almost three-quarters of businesses were optimistic about the future, but with President-elect Trump’s tariff threat looming, the outlook could worsen, especially for businesses that rely on exports to the US.
Expert Views
Economists have expressed concerns about the state of the economy. Charles St-Arnaud, chief economist for Alberta Central, noted that if population growth was at pre-pandemic levels, the economy would have shrunk by 0.2% quarter over quarter. Economists with National Bank of Canada also pointed out that GDP per capita has been declining for six consecutive quarters.
Call to Action
Experts are urging businesses to accelerate their digital transformation and invest in productivity-enhancing processes and equipment. With an aging workforce, a planned reduction in population growth, and a tough competitive environment, Canadian firms need to adapt quickly to stay ahead.
Related Articles
For more information on the economy and business trends, check out the following articles:
- "Mortgage borrowers will foot the bill for government GST cuts and other rebates"
- "Five-year hybrid mortgages are built for such topsy-turvy economic times"
- "Renters rejoice, relief may be on the way"
Stay Informed
To stay up-to-date with the latest business news and trends, sign up for our newsletter and bookmark our website at financialpost.com.
