Canada's economic situation is now worse than anticipated, according to the Canadian Chamber of Commerce. This contrasts sharply with Cabinet's previous Economic Statement, which predicted Canada would lead G7 nations in growth this year.

“The economy took a dive,” Andrew Di Capua, economist with the Canadian Chamber, said in a statement. “First quarter GDP growth is tracking below the Bank of Canada’s worst case forecast.”

Statistics Canada reported a 0.2% drop in economic production in February, with declines in home construction (0.9%), oil and gas (2.8%), and coal mining (14.8%). “Further slowdown should be expected,” Di Capua said.

The Liberals just sacrificed a million Canadian jobs to save themselves

A million Canadians on the chopping block, and the Liberals’ priority is themselves.

We are again, watching the Liberals light the country on fire to warm themselves.

Canada is staring down the barrel of a… pic.twitter.com/IGAqHjKYBz

— Rebel News (@RebelNewsOnline) March 5, 2025

A StatsCan report, Gross Domestic Product By Industry February 2025, supports a recent forecast predicting a recession by June as Canadian businesses face heightened pressure from low demand and higher input costs.

Main Street Quarterly forecasts a 0.8% GDP decline in the first quarter, anticipating further contraction by June amidst the ongoing trade war.

Consumer demand, trending downward since mid-2022, worsened with the tariff dispute. Businesses reported as much as a 35% drop in demand between February and March, reported Blacklock’s.

Immigration Minister Marc Miller said a tariff war with the U.S. could cost Canada one million jobs, adding to the existing 1,505,000 unemployed reported in Statistics Canada's February 7 Labour Force Survey.

“No matter what we do, if tariffs come into place, it is going to be painful for the Canadian economy,” Miller told reporters on March 3. “A million jobs at risk is no joke.” 

"Economy took a dive" says @CdnChamberofCom on new data showing a recession is likely by June: 'It is the worst case forecast.' https://t.co/11DJYwmD2z #cdnpoli @FinanceCanada pic.twitter.com/lj6i1h5ayP

— Blacklock's Reporter (@mindingottawa) May 1, 2025

The tariff dispute could lead to 68,100 fewer jobs in Ontario this year, potentially rising to 137,900 by 2029, according to a new report published Wednesday. It compared a tariff scenario based on U.S. and Canadian trade actions as of April 17 against a no-tariff scenario.

Unemployment is expected to rise in the province by 1.1% from 2025 to 2029 if the dispute remains unresolved, with the manufacturing sector facing the brunt of the losses.

Windsor would experience the largest drop in employment (1.6%) next year, followed by Guelph, Brantford, Waterloo Region, and London.

The trade war is also expected to curb Ontario's economic growth and increase consumer prices.

Justin Trudeau's former economic advisor, Mark Carney, admits Liberal leadership put Canada's economy in a weak position prior to Trump, while also admitting the damage of Trudeau's mass immigration "surge." pic.twitter.com/AJUupn5fuN

— Rebel News (@RebelNewsOnline) February 26, 2025

The bleak outlook contrasts December 16 Fall Economic Statement, which forecast a stronger 2025 economy, claiming "remarkable resilience" and predicting Canada would "lead the G7 in GDP growth." 

Prime Minister Mark Carney earlier said the economy was weaker than previously suggested. “Our economy was weak before we got to the point of these threats from President Trump.”

He explained that recent economic growth was primarily due to increased immigration and government spending, which grew at twice the rate of the economy. 

Carney asserted the economy was already weak before external threats and argued for significant changes in economic management.

Please help me stop Mark Carney — before it’s too late!

Mark Carney wasn’t elected — he was installed by the global elites. And now that he’s in charge, they think they’ve won. But not if we have anything to say about it. While the bought-and-paid-for media slobber over their new golden boy, we’re hitting the streets, digging into his World Economic Forum playbook, and calling out the radical agenda they’re trying to ram down Canada’s throat. This is the fight of our lives — and we’re not backing down. Help us keep our reporters on the ground, our billboard truck on the move, and our message uncensored. Pitch in now if you want to stop Mark Carney before he does irreversible damage.

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