How's the Economy?

Latest data to Nov 2026

How's the Canadian economy?

Mixed.

Some things are going well and others aren't. How it feels depends on whether you rent, own, borrow or save.

See what's behind itHow it's changedHow we decide

Other countries

The 6 things behind the verdict

How's inflation?

OK
3.1%
Prices, year over year

Prices are rising 3.1% a year, just outside the Bank of Canada's 1 to 3% target range.

Statistics Canada · Sep 2026

How are jobs?

OK
6.5%
Unemployment rate

Unemployment is 6.5%, close to its 20-year average of 6.9%.

Statistics Canada · Sep 2026

Is pay keeping up?

Bad
-0.8%
Pay growth minus inflation

Prices are rising faster than pay (-0.8% a year), so most workers are falling behind.

Statistics Canada · Sep 2026

How are rents?

Good
2.8%
Rents, year over year

Rents are rising 2.8% a year, a gentle pace.

Statistics Canada · Sep 2026

How are interest rates?

OK
2.50%
Bank of Canada policy rate

The Bank of Canada's policy rate is 2.50%. Borrowers are paying more than a few years ago, and savers are earning more.

Bank of Canada · Nov 2026

Is the economy growing?

OK
0.6%
GDP per person, year over year

Output per person grew 0.6% over the year. Growing, but only just once you count each person.

Statistics Canada · Q2 2026

The verdict over time

The verdict has been Mixed since Dec 2025. Since Mar 1962, it has been Strong 37% of the time, Mixed 43% and Weak 20%.

StrongMixedWeak1981–82 recession1990–92 recessionGFCCOVID-19Rate rises197019801990200020102020
StrongMixedWeak1981–82 recession1990–92 recessionGFCCOVID-19Rate rises198020002020
  • GFC, Oct 2008 to May 2009. The verdict was Strong from October to December 2008, as the global financial crisis hit. Unemployment rose from 6.4% to 7.0%, but that was still close to its 20-year average, which includes the high unemployment of the 1990s, and less than the 1-point rise in a year that makes jobs Bad on its own. It passed that mark in January 2009, when the verdict fell to Mixed. Meanwhile the Bank of Canada cut rates from 3% to 1.5%, which the rules count as Good for borrowers, and with prices barely rising, pay was beating inflation. We've left the rules as they are rather than change them after the fact.
Show what drove it: the 6 measures
  • Good
  • OK
  • Bad
  • No data yet
Inflation
Jobs
Pay after prices
Rents
Interest rates
Growth
See the verdict year by year
YearOverallInflationJobsPay after pricesRentsInterest ratesGrowth
Nov 2026MixedOKOKBadGoodOKOK
2025MixedGoodOKGoodOKGoodBad
2024MixedGoodOKGoodBadOKOK
2023MixedOKGoodGoodBadBadBad
2022WeakBadGoodBadBadBadOK
2021MixedBadGoodBadGoodGoodGood
2020MixedOKBadGoodGoodGoodBad
2019StrongGoodGoodOKOKGoodOK
2018StrongGoodGoodOKGoodGoodOK
2017StrongGoodGoodOKGoodGoodGood
2016MixedGoodOKBadGoodGoodOK
2015StrongGoodOKGoodGoodGoodBad
2014StrongGoodGoodOKGoodGoodGood
2013StrongGoodOKGoodGoodGoodGood
2012StrongOKGoodGoodGoodGoodBad
2011StrongGoodGoodOKGoodGoodGood
2010StrongGoodGoodBadGoodGoodGood
2009MixedGoodBadGoodGoodGoodBad
2008StrongGoodGoodGoodGoodGoodBad
2007StrongGoodGoodGoodGoodBadOK
2006StrongGoodGoodGoodGoodBadOK
2005StrongGoodGoodGoodGoodOKGood
2004StrongGoodGoodOKGoodOKGood
2003StrongGoodGoodOKGoodOKOK
2002MixedOKGoodBadGoodOKGood
2001MixedOKBadGoodGoodGoodOK
2000MixedOKGoodBadGoodBadGood
1999StrongGoodGoodOKGoodBadGood
1998StrongGoodGoodOKGoodBadGood
1997MixedOKGood–GoodBadGood
1996MixedGoodOK–GoodOKOK
1995MixedGoodOK–GoodBadOK
1994MixedBad––GoodBadGood
1993StrongGood––GoodBadGood
1992MixedGood––GoodBadOK
1991WeakOK––OKBadBad
1990WeakBad––OKBadBad
1989WeakBad––OKBadOK
1988MixedOK––OKBadGood
1987MixedBad––OKBadGood
1986WeakBad––OKBadBad
1985MixedBad––OKBadGood
1984MixedOK––OKBadGood
1983WeakBad––BadBadGood
1982WeakBad––BadBadBad
1981WeakBad––BadBadOK
1980WeakBad––BadBadOK
1979MixedBad––OKBadGood
1978MixedBad––OKBadGood
1977WeakBad––BadBadGood
1976WeakBad––BadBadGood
1975WeakBad––BadBadGood
1974WeakBad––OKBadBad
1973MixedBad––GoodBadGood
1972MixedBad––GoodBadGood
1971MixedBad––GoodBadGood
1970MixedGood––GoodBadOK
1969MixedBad––OKBadGood
1968MixedBad––OKBadGood
1967WeakBad––OKBadOK
1966MixedOK––GoodBadGood
1965MixedOK––GoodBadGood
1964StrongGood––GoodBadGood
1963StrongGood––GoodBadGood
1962StrongGood––GoodBadGood

Download the verdict for every month (CSV)

The longer stretches

Every run of Strong or Weak lasting 6 months or more, most recent first. The rest of the time the verdict was Mixed or changing month to month.

  • WeakMar 2024 to Sep 2024 · 7 months
  • StrongAug 2018 to Feb 2020 · 19 months
  • StrongFeb 2017 to Jun 2018 · 17 months
  • StrongMay 2011 to Dec 2015 · 56 months
  • StrongFeb 2010 to Feb 2011 · 13 months
  • StrongOct 2006 to May 2008 · 20 months
  • StrongJul 2003 to Aug 2006 · 38 months
  • StrongJan 2002 to Sep 2002 · 9 months
  • StrongOct 1998 to Feb 2000 · 17 months
  • StrongMar 1997 to Nov 1997 · 9 months
  • StrongFeb 1995 to Aug 1995 · 7 months
  • StrongJun 1993 to Jan 1994 · 8 months
  • WeakFeb 1989 to Dec 1991 · 35 months · 1990–92 recession
  • WeakSep 1986 to May 1987 · 9 months
  • WeakJun 1980 to Jul 1984 · 50 months · 1981–82 recession
  • WeakDec 1974 to Sep 1978 · 46 months
  • StrongApr 1962 to May 1965 · 38 months

Every month is judged by today's rules, using today's figures. Those include later revisions, so this shows how each month looks now, not what was known at the time. Some measures start later: jobs from Dec 1995 and pay after prices from Jan 1998. Until then the verdict uses the measures that exist. More on the method