Canadian economy grew slightly in November, expected to slow further

The Canadian economy grew by 0.1 per cent in November as higher interest rates began to slow spending toward the end of the year.

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Economists say the full effects of interest rate hikes usually takes between 12 months and 18 months to fully work its way through the economy.Article content Statistics Canada’s report notes that the removal of COVID-19 travel restrictions have spurred growth in transportation and warehousing.“You’re starting to see more signs of maybe cracks in the consumer spending backdrop,” said Janzen, noting the declines in retail trade and accommodation and food services.

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