February 1, 2023
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. 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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