FLCA - Canadian economy stalls in Q4 after five consecutive quarters of growth

• The Canadian economy stalled from the previous quarter in Q4 of 2022, putting an end to five consecutive quarters of growth and following a 0.7% expansion in Q3.
• Slower inventory accumulation and a decline in business investment in machinery equipment and housing offset higher consumption for households and the government.
• Following five consecutive quarters of growth, GDP--a broad measure of goods and services produced across Canada--flattened at an annual rate in the fourth quarter at 2.186 trillion Canadian dollars, the equivalent of $1.61 trillion, Statistics Canada said Tuesday.
• The performance undershot market expectations for an advance of 1.6% for the latest quarter, according to economists at TD Securities, and follows a downwardly revised 2.3% rise in the third quarter of the year.
• "However all indications from Jan and Feb so far have been strong and that will give the Bank of Canada something to think about next week as the prelim January number was strong. Still, such a soft number erases what had been a 9% chance of a hike priced in for March 8."
• ETFs: EWC , HEWC , FLCA .

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