Canada's GDP Growth Plunges in 2022

147% Decline from Record High in 2021

GDP Growth Rate Slumps to 3.82%, Lowest since 2020

Brace yourself for a stark reversal in Canada's economic fortunes. According to official data, the country's GDP growth rate plummeted to 3.82% in 2022, a jaw-dropping 147% decline from the exceptional 5.29% growth in 2021.

This sharp deceleration signals a significant economic slowdown, marking the end of a period of rapid growth fueled by the post-pandemic recovery. With the 2022 growth rate falling to its lowest level since 2020, the Canadian economy faces a new chapter of challenges.