prices-Inflation

U.S. economy grows more than expected at end of 2023, driven by consumer spending

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The U.S. economy grew at an unexpectedly brisk 3.3 per cent annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households. Thursday’s report from the U.S. Commerce Department said the gross domestic product — the economy’s total output of goods … Read more

Mortgage holders say they can make higher payments as Canadians cut spending: survey

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A Bank of Canada survey finds Canadians are increasingly cutting back on spending while mortgage holders remain confident they can keep up with higher payments when their loans renew. The central bank released its fourth-quarter consumer expectations and business outlook surveys Monday, revealing how Canadians are faring amid higher borrowing costs and rising prices. Roughly … Read more