The Canadian Press

The Bank of Canada says business and consumer sentiment improved during the first quarter of the year, despite higher interest rates still putting a drag on the economy.

Canada looks set to dodge a recession despite the ongoing downward pressure from higher interest rates, Deloitte Canada said in its economic outlook report. 

Statistics Canada says real GDP grew 0.6 per cent in January, helped by the end of public sector strikes in Quebec in November and December.

The agency says combined housing starts in the Toronto, Vancouver, Montreal, Calgary, Edmonton and Ottawa regions dipped 0.5 per cent compared with 2022, totalling 137,915 units, as apartment starts grew seven per cent to reach a record 98,774 units.

Business leaders see the housing crisis as the biggest risk to the economy, a new survey from KPMG Canada shows.

CFIB president Dan Kelly says many businesses that had to borrow to repay their CEBA loans are facing high interest rates and will be challenged to meet their payment obligations.

A senior Bank of Canada official says the need to improve productivity has reached an emergency level as the economy faces a future where inflation may be more of a threat than in the past few decades.

Parkland Corp. is looking to sell 157 convenience store and fuel station locations across six provinces, including locations under the Chevron, Ultramar, Pioneer and FasGas brands as well as the On the Run convenience store banner.

Giant Tiger Stores Ltd. says contact information for some of its customers was compromised in an "incident" linked to a third-party vendor it uses.

The Bank of Canada expects it will be able to begin cutting interest rates sometime this year, but officials are split on timing.