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Assessing Canada's economic challenges
Canada's economy is facing challenges despite Prime Minister Mark Carney’s efforts to strengthen it, with recent indicators showing a technical recession after two consecutive GDP declines. Economic growth is forecast at 1.6%, and inflation remains at 3.2%, contributing to rising living costs that affect many Canadians. Meanwhile, high housing costs have increased wealth for some homeowners but left younger Canadians and renters struggling financially. Unemployment is at 6.6%, with youth unemployment at 13.4%, highlighting difficulties among younger populations, while Canada's dependence on US trade and ongoing tariffs continue to impact business operations.
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