Happy Friday from BMWM!

 

The Current Account (click here to read) covers the imminent end of the price freeze at Canadian grocery stores, Instagram’s founders launching their answer to Twitter, Tom Brady’s retirement announcement, and Australian authorities recovering a radioactive capsule after a week-long search.

 

The Canadian economy geared down at the end of 2022. GDP (Gross Domestic Product) grew at about half the pace of the first three quarters with preliminary data showing it flattened out altogether in December after rising just 0.1% in November. Overall, the monthly gains point to fourth quarter annualized growth of 1.6%, down from 2.9% in the third quarter. The slowdown comes as the Bank of Canada's aggressive interest rate hikes dig in. The lagged effects of the hikes are expected to drag growth to a halt, with RBC Economics calling for a moderate recession or two quarters of shallow contraction in the first half of 2023.

 

Taylor’s word of the week is avocation, meaning “an activity that someone engages in as a hobby outside of their main occupation”. For example, Matty enjoys cooking as an avocation.

 

Have a great weekend,

 

Brenda, Taylor, and Matty