Driver, 18, gets $3,000 ticket, 32 demerit points after speeding on Laval boulevard
A young driver received a hefty fine from Laval police after they say he was driving nearly 100 km/h over the posted speed limit.
The Canadian economy grew slightly in November and looks to have stalled further at the end of the year as higher interest rates began to slow spending.
Statistics Canada's preliminary estimate for real GDP in December indicates the economy stayed flat, suggesting the economy grew at an annualized rate of 1.6 per cent in the fourth quarter of last year.
In comparison, the economy grew at an annualized rate of 2.9 per cent in the third quarter of 2022.
RBC assistant chief economist Nathan Janzen said although the fourth quarter eked out positive growth, the economy was clearly slowing.
That trend is expected to continue, he said.
"The key when you look forward is really that a lot of the impact of interest rate increases from the Bank of Canada to date, haven't yet flowed through fully to household purchasing power," he said.
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.
The stalled growth comes after the economy grew by 0.1 per cent in November, the federal agency said Tuesday.
Growth in real domestic product for the month was driven by the public sector, transportation and warehousing and finance and insurance.
Statistics Canada's report notes that the removal of COVID-19 travel restrictions have spurred growth in transportation and warehousing.
Meanwhile, construction, retail and accommodation and food services contracted.
"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.
The housing market was the first to feel the effects of interest rate hikes, leading to a slowdown in housing-related sectors.
That slowdown is expected to extend to other sectors in the economy as higher borrowing costs force consumers and businesses to pull back on spending.
The Bank of Canada raised its key interest rate for the eighth consecutive time last week and said it was taking a conditional pause, keeping the door open to further rate hikes if inflation isn't tamed.
Statistics Canada estimates that for 2022, the economy grew by 3.8 per cent.
Looking ahead, many economists are anticipating a mild recession in 2023. However, the economy is expected to recover in the second half of the year.
"A lot of the impact of interest rate increases from the Bank of Canada to date, haven't yet flowed through fully to household purchasing power," said Janzen.
"So we still do expect GDP growth to continue to slow and get into negative territory over the first half of this year."
This report by The Canadian Press was first published Jan. 31, 2023.
A young driver received a hefty fine from Laval police after they say he was driving nearly 100 km/h over the posted speed limit.
According to some experts, there is one type of screen time that is continuously excessive, and it's having a severe effect on our children.
New Brunswick Premier Blaine Higgs has shared his anger on social media over a presentation in at least four high schools.
Donald Trump was booed repeatedly while addressing Saturday night’s Libertarian Party National Convention.
Two-time PGA Tour winner Grayson Murray died Saturday morning at age 30, one day after he withdrew from the Charles Schwab Cup Challenge at Colonial.
Powerful storms killed at least nine people and left a wide trail of destruction Sunday across Texas, Oklahoma and Arkansas after obliterating homes and destroying a truck stop where drivers took shelter during the latest deadly weather to strike the central U.S.
Cases of Lyme disease have now increased more than 1,000 per cent in a decade as the warming climate pushes the boundaries of a range of pathogens and risk factors northward.
Twelve people were injured when a Qatar Airways plane flying from Doha to Dublin on Sunday hit turbulence, airport authorities said.
The French tennis federation put off holding a ceremony to celebrate Rafael Nadal at Roland Garros this year, because he has said this might not necessarily be his final appearance at the tournament he has won a record 14 times.
When one is extended an invitation to the Royal Garden Party in London, England, there's undoubtedly no shortage of pomp and circumstance. Barrie, Ont. natives Megan Kirk Chang and her husband Brandon experienced just that as they entered the prestigious event hosted at Buckingham Palace on Tuesday.
An unlikely celebrity emerged from social media to cheer on the Edmonton Oilers as they face the Dallas Stars tonight in Game 1 of the Western Conference Finals.
The proprietors of Regina's sole discount theatre are aware they're carrying on a significant legacy.
When Jujhar Mann said he wanted to be a pastry chef on a grade school career project, he didn't imagine that pursuing his dream would land him on a popular Netflix baking competition.
A city known for its history, ties to outer space and southern barbecue, is also home to a Winnipeg chef dishing out dozens of perogies.
A Montreal photographer captured the moment a Canada goose defended itself from a fox at the Botanical Garden.
Public libraries in Atlantic Canada are now lending a broader range of items.
Flashes of purple darting across the sky mixed with the serenading sound of songs will be noticed more with spring in full force in Manitoba.
Catching 'em all with impressive speed, a 7-year-old boy from Windsor, Ont. who only started his competitive Pokémon journey seven months ago has already levelled up to compete at a world championship level.