The Canadian economy is tracking 1.3% annualized growth between July and September, slowing down from a robust second quarter and coming in weaker than the Bank of Canada forecasted.

The Bank of Canada hiked interest rates to ward off upside inflation risks posed by higher energy prices, and said it would determine whether more increases are necessary one decision at a time.

Canada’s inflation rate ticked up to 3.1% in September as gasoline prices rose, while some gauges of underlying price pressures eased.

The Canadian economy is tracking for weaker growth in the third quarter after roaring back to life between April and June.

Canadian retail spending is on track to rebound in August after consumers pulled back for the first time in seven months.

Canadian Industry Minister Melanie Joly said there’s bipartisan political support for tariffs in the US, raising the possibility the country’s manufacturers will face barriers to North America’s largest market long after Donald Trump’s presidency.

Canada’s inflation rate was unchanged at 3% last month, matching expectations as gasoline prices rose at a slower annual pace.

Prime Minister Mark Carney said this week’s round of US trade measures against Canada will hurt some businesses, but will have a “modest” impact overall — and signaled his government isn’t planning to retaliate.

Prime Minister Mark Carney said he doesn’t believe in escalating the trade war with the US, but argued it was necessary to retaliate against the most recent US tariffs while warning Canadians to brace for turbulent times ahead.

Employment in Canada fell by 41,700 in August, reversing some of the labor market momentum seen in recent months as the manufacturing sector posted the only significant increase.

Canada’s trade surplus narrowed sharply in July as declines in gold and energy dropped exports to the US to their lowest proportion since 1997, outside the Covid-19 pandemic.

Growth in Canada’s real gross domestic product accelerated to 3.3% in the second quarter, confirming a strong rebound after a yearlong slump brought on by US tariffs and a slowdown in immigration.

Canadian economic growth accelerated to a 3.3% pace in the second quarter, confirming a strong rebound after a yearlong slump brought on by US tariffs and a slowdown in immigration.

Canadians wanted their prime minister to stand tough and not sign a bad trade deal with the US. But the collapse of talks, and the escalation of the tariff war, will come at a price.

President Donald Trump and Canadian Prime Minister Mark Carney spoke by phone about trade negotiations on Monday, a little more than 24 hours before the US is due to implement punishing new tariffs on Canadian products.

Canada’s inflation rate accelerated to 3% as the Middle East conflict pushed up gasoline prices, while core measures of price growth remained subdued.

Canada’s chief trade negotiator told a government advisory group that there’s still a significant amount of work to do to reach an agreement that would stave off a new wave of US tariffs next week.

A year ago, after a meeting with Canada’s provincial leaders, Prime Minister Mark Carney made a pledge that he has since repeated many times.

The Canadian economy added a surprise 75,100 jobs last month while the unemployment rate hit its lowest level in two years — the latest evidence the economy is on a recovery path.

Canada’s imports from the US reached a record high in June, fueled by a surge in computer parts used for data centers as the country looks to expand its artificial intelligence infrastructure.