After reviewing the reading resources the state of the Canadian economy appears to be slowly recovering. In Q4 of 2023 the overall GDP had risen from approximately 2.185 million to 2.204 million (Statcan. 2024). Being driven primarily from the Service Producing Industries, which contributes to 70% of the total GDP in Canada. The unemployment rate sits at 6.1%, which is has decreased 0.9% from March 2023 to March 2024 (Statcan.2024). This overall decrease shows more working individuals aged 15+ which contributes to a more stable economy. This number does not include any persons who are unemployed but not looking to work. The Consumer Price Index is a good indicator of inflation as it records the pricing of every day products such as food, housing and electricity. The 12 month average is 2.8% higher, however it is lower since January 2024. When considering the three factors the Canadian Economy appears to be recovering, and hopefully moving forward the economy will avoid a true recession.

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