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The most concerning things that a country has are economic growth and GDP. They are the most challenging subjects for any establishment or governing body. The good economic growth and stronger GDP reflect low inflation, unemployment, a better standard of living, and lower poverty. Higher the GDP better the exports and hence good makeup of the forex reserve. The forex reserves and high GDP numbers make it easier for a country to purchase a loan for infrastructure and development projects. Moreover, decent development and infrastructure bring prosperity to any country. Generally, economists consider 2-3% growth in GDP year by year a sign of a strong economy. This is an insight into what will be discussed in our paddle wall. I hope you all will enjoy and learn something new about it.

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The website shares a piece of critical information about the bond interest rates. It shared an essential piece of information that Government of Canada bonds will be adjusted to $3 billion, which shows how good the economy is recovering. Moreover, it discussed the global recovery in GDP that has projected a 6.75% growth in 2021. It also means that the world is recovering from the pandemic. It also talked about the inflation rate will rise by 1-3%, which is good as it has been in the inflation-control range. In conclusion, the data reflected by the website summaries recent phases of economic changes in the world and Canada.

The monetary policy holds a vital role in the economic growth of any country. The website from the bank of Canada was chosen as a subject because it is Canada's reserve bank website, and its policies are followed all over Canada. It also provides the most accurate and relevant data for the topic. Moreover, the most exciting thing that is useful to know is that the rise in inflation has one reason for the price fall of some goods and services. This means that those goods and services raised prices and caused inflation to rise.

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The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank continues to provide extraordinary forward guidance on the path for the overnight rate, reinforced and supplemented by the Bank's quantitative easing (QE) program. Effective the week of April 26, weekly net purchases of Government of Canada bonds will be adjusted to a target of $3 billion. This adjustment to the amount of incremental stimulus being added each week reflects the progress made in the economic recovery.

The outlook has improved for both the global and Canadian economies. Activity has proven more resilient than expected in the face of the COVID-19 pandemic, and the rollout of vaccines is progressing. A number of regions, including Canada, are experiencing a difficult third wave of infections and lockdowns. The more contagious variants of the virus are straining healthcare systems and affecting hard-to-distance activities, and have introduced a new dimension of uncertainty. The recovery remains highly dependent on the evolution of the pandemic and the pace of vaccinations.

Global economic growth is stronger than was forecast in the January Monetary Policy Report (MPR), although the pace varies considerably across countries. After a contraction of 2 ½ percent in 2020, the Bank now projects global GDP to grow by just over 6 ¾ percent in 2021, about 4 percent in 2022, and almost 3 ½ percent in 2023. The recovery in the United States has been particularly strong, owing to fiscal stimulus and rapid vaccine rollouts. The global recovery has lifted commodity prices, including oil, contributing to the strength of the Canadian dollar.

In Canada, growth in the first quarter appears considerably stronger than the Bank's January forecast, as households and companies adapted to the second wave and associated restrictions. Substantial job gains in February and March boosted employment. However, new lockdowns will pose another setback and the labour market remains difficult for many Canadians, especially low-wage workers, young people and women. As vaccines roll out and the economy reopens, consumption is expected to rebound strongly in the second half of this year and remain robust over the projection. Housing construction and resales are at historic highs, driven by the desire for more living space, low mortgage rates, and limited supply. The Bank will continue to monitor the potential risks associated with the rapid rise in house prices. Meanwhile, strong growth in foreign demand and higher commodity prices are expected to drive a robust recovery in exports and business investment. Additional federal and provincial fiscal stimulus will contribute importantly to growth. The Bank now forecasts real GDP growth of 6 ½ percent in 2021, moderating to around 3 ¾ percent in 2022 and 3 ¼ percent in 2023.

The Bank has revised up its estimate of potential output in light of greater resilience to the pandemic and accelerated digitalization. The virus and lockdowns have had very different impacts across sectors, businesses, and groups of workers, creating an unusual degree of uncertainty about the amount of slack in the economy and how long it will take to be absorbed. To gauge the evolution of slack, the Bank will look at a broad spectrum of indicators, including various measures of labour market conditions.

Over the next few months, inflation is expected to rise temporarily to around the top of the 1-3 percent inflation-control range. This is largely the result of base-year effects-year-over-year CPI inflation is higher because prices of some goods and services fell sharply at the start of the pandemic. In addition, the increase in oil prices since December has driven gasoline prices above their pre-pandemic levels. The Bank expects CPI inflation to ease back toward 2 percent over the second half of 2021 as these base-year effects diminish, and inflation is expected to ease further because of the ongoing drag from excess capacity. As slack is absorbed, inflation should return to 2 per cent on a sustained basis some time in the second half of 2022.

Even as economic prospects improve, the Governing Council judges that there is still considerable excess capacity, and the recovery continues to require extraordinary monetary policy support. We remain committed to holding the policy interest rate at the effective lower bound until economic slack is absorbed so that the 2 percent inflation target is sustainably achieved. Based on the Bank's latest projection, this is now expected to happen some time in the second half of 2022. The Bank is continuing its QE program to reinforce this commitment and keep interest rates low across the yield curve. Decisions regarding further adjustments to the pace of net purchases will be guided by Governing Council's ongoing assessment of the strength and durability of the recovery. We will continue to provide the appropriate degree of monetary policy stimulus to support the recovery and achieve the inflation objective.

Information note

The next scheduled date for announcing the overnight rate target is June 9, 2021. The next full update of the Bank's outlook for the economy and inflation, including risks to the projection, will be published in the MPR on July 14, 2021.

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Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program

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The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank continues to provide extraordinary forward guidance on the path for the overnight rate, reinforced and supplemented by the Bank's quantitative easing (QE) program.

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The second website that we chose shows Canada's diverse sector's contribution to its GDP. The most significant part of the GDP contribution is of the services sector. It has contributed almost 70% to Canada's GDP. It mainly comprises finance, real estate, leasing, and rental companies. It is better to be a service-based economy. The retail and wholesale sectors contributed around 12%, while health and public administration were 8% and 6% respectively. That shows a diverse and robust side of the Canadian economy.

The reason for choosing this website is that it depicted the actual scenario of the Canadian economy, and the data was relevant and recent. This website also provides a feature of comparing GDPs of G20 countries, which was another reason to select this website. The valuable data that I found from this website are oil and mining of Canada contribute 4% in GDP, yet Canada is a net energy exporter.

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Canada GDP Annual Growth Rate | 2021 Data | 2022 Forecast | 1962-2020 Historical

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The Gross Domestic Product (GDP) in Canada expanded 12.70 percent in the second quarter of 2021 over the same quarter of the previous year. GDP Annual Growth Rate in Canada averaged 3.02 percent from 1962 until 2021, reaching an all time high of 12.70 percent in the second quarter of 2021 and a record low of -12.60 percent in the second quarter of 2020.

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The statistics Canada shows the data of the current quarter of the Canadian economy. It states that the Canadian economy grew 2.3% in the recent quarter and talked about shrinking it in 2020. It compares the best with the previous performance, which is the best way to compare the performance of the Canadian economy. The success can be calculated by how we have performed in the past. It also discussed the points like investments in the housing market continued to rise, now enjoying a 30.7% rise. The business investment slackness and the household spending edge down are also discussed.

The reason for choosing this website is that statistics Canada is a government website, and it provides factual and accurate data about the economy. I felt the helpful thing in this website was the report on export and imports volumes, which can help us keep track of the stock market.

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The Daily — Gross domestic product, income and expenditure, fourth quarter 2020

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Real gross domestic product (GDP) grew 2.3% in the fourth quarter of 2020, following record fluctuations in the previous two quarters. In 2020, real GDP shrank 5.4%, the steepest annual decline since quarterly data were first recorded in 1961. Final domestic demand rose 0.9% in the fourth quarter, b…

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The last website that we choose is global news. It talked about the Canadian GDP in the month of the august and impact of the pandemic on it. It says that it has done well in the third quarter by giving 1.9% growth. Despite this fact, it has also shown a contraction of 1.1% in April and June. It has been stated that by easing the restrictions, restaurants and bars have shown an output of 5.4%, accommodation services and air transport grew by 11.3% and 24.2%, respectively. This was the impact of easing the restrictions.

The reason for choosing this website is that global news is one of the most trusted networks in Canada, which shows relevant and accurate data. The most helpful thing that I came to know from this website is the disruption of the global supply chain, which is impacting global GDP.

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The Canadian economy appears to have rebounded in the third quarter after it stumbled and contracted during the preceding three-month stretch..

Statistics Canada 's initial estimate suggests the economy grew at an annual rate of 1.9 per cent in the third quarter, the agency said Friday.

The finding could change once the agency receives additional data. The figure will be finalized next month.

While the result would be a welcome U-turn from the contraction of 1.1 per cent between April and June, the size of the rebound looks to be disappointing, said BMO chief economist Douglas Porter.

"The fact that the economy only managed to grow at roughly a two-per-cent annual rate after actually falling in the second quarter just shows how it's struggling to make any headway," Porter said.

"We had a really nice start to the year, but the economy, frankly, has had trouble building on that momentum."

It won't get any easier as economic headwinds from global supply chain issues are expected to worsen, dealing what Porter described as another in a series of unfortunate events keeping the economy from reaching its full potential.

After a contraction in July, real gross domestic product grew by 0.4 per cent in August, led by a rise in activity in high-contact service sectors helped by the easing of public health restrictions.

Output at restaurants and bars grew by 5.4 per cent, accommodation services rose 11.3 per cent, and air transport grew by 24.2 per cent to mark six straight months of double-digit growth as more travellers took to the skies.

The agriculture sector was a source of weakness as crop production fell 10.9 per because of record-setting heat and drought in the West.

Freeland confident in Canada's economy amid global supply chain issues

Statistics Canada said the second straight month of declines in the sector marked the largest back-to-back monthly contractions since the agency began collecting comparable data in 1997.

To close out the quarter, the agency estimated GDP was essentially unchanged for September as a significant drop in manufacturing and decline in retail trade offset gains elsewhere.

Statistics Canada said total economic activity in August was about one per cent below pre-pandemic levels recorded in February 2020, a gap that didn't change in September.

TD Bank senior economist Sri Thanabalasingam said closing that remaining gap could be challenging because global supply-chain disruptions and labour shortages could crimp output for months to come.

The Bank of Canada, he wrote, "may need to, once again, adjust its narrative on the Canadian economy."

On Wednesday, the bank revised down its projection for growth in the third quarter to 5.5 per cent from an annualized rate of 7.3 per cent in its previous forecast, and lowered its forecast for growth in 2021 to 5.1 per cent from six per cent.

Even though growth has fallen below expectations, Porter said the central bank is likely still looking at raising rates sooner than planned because inflation is above its comfort zone.

Governor Tiff Macklem warned high inflation rates are likely to go higher as supply chain issues worsen in the coming weeks. He added the bottlenecks should eventually work themselves out.

Why everything you want is out of stock or more expensive

CIBC chief economist Avery Shenfeld said Friday the impact from bottlenecks should lessen over 2022 if the source of problems, often COVID-19 outbreaks abroad, heals.

On Friday, Finance Minister Chrystia Freeland was in Rome to meet with her G20 counterparts where she planned to push countries to better share vaccines, which could reduce global outbreaks weighing on trade.

Freeland has previously said the government is keeping an eye on Canadian ports for signs of strain, but the Opposition Conservatives on Friday called on the government to do more to unclog supply chains and help grow the domestic economy.

"As global economies continue to emerge from the COVID-19 pandemic, it has never been more critical to have a plan to tackle the significant economic challenges on the horizon," Conservative Leader Erin O'Toole said in a statement.

O'Toole in a letter to Trudeau last week called on the government to work with the private sector and White House to shore up the North American supply chain given global challenges.

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COVID-19-hit sectors led Canada's GDP growth in August - National | Globalnews.ca

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The Canadian economy appears to have rebounded in the third quarter after it stumbled and contracted during the preceding three-month stretch.. Statistics Canada 's initial estimate suggests the economy grew at an annual rate of 1.9 per cent in the third quarter, the agency said Friday.

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This picture illustrates the economic growth and GDP growth rates from 2018 to the forecasted outlook till 2023. As you can see, private consumption and government dropped the most due to the impact of the covid pandemic in 2020, which is bound to bounce back to normal levels. Whereas industries dealing trade will be walloped, and consumption around the world and some domestic consumption is still experiencing restrain due to the covid-19 pandemic, one of the other worrying signs is increasing debt, as borrowing surged remarkably in 2020 due to pandemic reaching 126.6% from 2019’s already high 92.7%, this all shows the current image of borrowing.

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This is the image of Canada's performance with their other fellows of OECD (Organisation for Economic Co-operation and Development) countries. It is a group of the most developed and prosperous countries. The image shows that the growth rate of Canada is lower by 12% than other OECD countries. Production is lowered by 18%, and also the employment rate was used to be high and growing before the 2020 crisis. This shows that we still need to work more and improve to grow.

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Canada's economy is categorized as a highly developed mixed economy, being the ninth largest in nominal GDP ( $1.88 trillion)  and the 15th largest purchase power parity ( $1.97 trillion ). The service industry dominates Canada's economy (70% of the economy ) and employs most Canadians. GDP per capita is $49,222. Canada has a 20.3 million labor force. Canada's total trade reached $1.5 trillion, including Import – $548 billion and Export - $453 billion. Canada has the third-highest total estimated value of natural resources, valued at US$33.2 trillion in 2019.
Canada's largest trading partners are the United States, China, the united kingdom, Germany, Mexico, and Japan. Real estate contributes most to the Canadian economy, 13.01%
On the expenditure side, household consumption is the main component of GDP and accounts for 58 percent of its total use, followed by gross fixed capital formation (22 percent) and government expenditure (19 percent)
As we all know, economic growth has been significantly impacted by the pandemic crisis though it is rebounding.

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The second video shows how the Canadian economy is adapting to the pandemic restrictions and keeps moving ahead at a forward pace. Later it describes the possibility of the third wave and its impacts on the economy. The market is confused about the possibility of a third wave and unable to react accordingly. It also stated that the economy is recovering, but still, it will take time to recover fully. It also talked about the Bank of Canada to keep rates lower till everything recovers.

The reason for choosing this website is the reliability and accuracy of the source. This video provided helpful information that the Bank of Canada runs the bond program to keep interest rates low, which indicates investing in the bond market.

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April 2021 Monetary Policy Report – In Brief

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Housing is one of the significant issues upheld by the general public, especially the young population, as an incredible backdrop to the economy; as real estate accounts for a 13.01% share of GDP activities, it is indispensable to focus on this building crisis.

The video further states that the housing market has become an excellent way to invest money regarding how the prices are going high. Canadian investors find this market lucrative as it is a more stable way to invest money. This continues, and a 25% increment in this market is seen this year. If this market collapse, then it will hit hard GDPs performance.

The reason for choosing this video is to reflect Canada's current housing market conditions and possible outcomes of corrections in it. The most helpful thing in this video I found was the possibility of a correction in this market.

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How domestic investors are fuelling Canada’s hot housing market

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The fourth video shows the statistics and the number of the Canadian economy. The Canadian economy is considered $1.6 trillion US dollars in 2020. It also said that the per capita income is $46,460 US dollars which is most likely four times higher than the rest of the world. It also described the diverse area of workforce engagement. Most workforce is engaged in the services sector followed by industrial and agricultural. The later exports of Canada have discussed around 390 billion US dollars.

The reason for choosing this video was to demonstrate the statistical data from an economic perspective. This data had a helpful piece of information that stated that Canada has a 15.9% trade deficit that needs to be resolved. This means Canadians have a chance to grow their homegrown industry, which can help to reduce the trade deficit.

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1. What did you learn about your topic that surprised you the most?

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1. What did you learn about your topic that surprised you the most?

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The topic of the economy and the growth rate has revealed fascinating facts in front of me. There were various points about the countries economy that I didn't know before. The countries' GDP growth and economic growth by linking them with inflation and changing global market dynamics have fascinated me. The world is changing rapidly, and making business-friendly policies has significantly impacted us. The policies of the Bank of Canada of running bond programs to stabilize the interest rates show the sign of the responsible government who tries to keep everything at equilibrium. I have learned how to maintain a good balance and progress further from this topic.

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2. Provide a real-life example of how this topic is relevant or interestingfor you.

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2. Provide a real-life example of how this topic is relevant or interestingfor you.

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This topic is interesting and helpful because it has shown me how GDP and economic growth progress. These are the topics that are the pillar for any nation. For instance, I will talk about how I use my analyzing knowledge of economic growth and GDP used in the stock market. I help myself decide the best area to invest my money in by reading and researching the economic development of any country. Economic growth allows us to read any country's net imports and exports, which forms a basis of the stock market. The government effort to keep interest rates low by buying bonds helps us know how and when to invest money. This topic also provides a good insight into how one's country is doing and helps to keep track of economic growth.

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3. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

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3. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

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If I try to pass my knowledge to close one, I will try to teach them about different sectors of the economy. The most exciting thing that I will teach them is the bond market—how the federal bonds decide the interests rates and how they affect inflation. The growth in GDP means higher returns on investment. I will also convey that higher GDP and lower population result in higher per capita income. I will try to keep the lesson simple and easy to understand.