In the news today: StatCan to release estimate for Q3 economic growth

OTTAWA – The Canadian economy was flat in August as high interest rates continued to weigh on consumers and businesses, while a preliminary estimate suggests it grew at an annualized rate of one per cent in the third quarter.

Statistics Canada’s gross domestic product report Thursday says growth in services-producing industries in August were offset by declines in goods-producing industries.

The manufacturing sector was the largest drag on the economy, followed by utilities, wholesale and trade and transportation and warehousing.

The report notes shutdowns at Canada’s two largest railways contributed to a decline in transportation and warehousing.

A preliminary estimate for September suggests real gross domestic product grew by 0.3 per cent.

Statistics Canada’s estimate for the third quarter is weaker than the Bank of Canada’s projection of 1.5 per cent annualized growth.

The central bank has acknowledged repeatedly the economy is weak and that growth needs to pick back up.

Last week, the Bank of Canada delivered a half-percentage point interest rate cut in response to inflation returning to its two per cent target.

Governor Tiff Macklem wouldn’t say whether the central bank will follow up with another jumbo cut in December and instead said the central bank will take interest rate decisions one a time based on incoming economic data.

The Bank of Canada is expecting economic growth to rebound next year as rate cuts filter through the economy.

This report by The Canadian Press was first published Oct. 31, 2024

The Canadian Press. All rights reserved.

LACOMBE, Alta. – Canada’s Rachel Homan and Brad Gushue carried unbeaten records into Thursday at the Pan Continental curling championship and are assured semifinal berths.

Homan thumped Mexico 10-1 in just six ends on Wednesday evening after also making quick work of South Korea in an earlier 8-2 decision that lasted six ends.

Gushue downed Australia 13-8 in the lone men’s draw.

Ottawa’s Homan and Gushue of St. John’s, N.L., were both 6-0 with one game remaining in their preliminary rounds Thursday.

Gushue finishes against China’s Xiaoming Xu (4-2) and Homan meets Japan’s Miyu Ueno in a battle of undefeated teams.

The men’s semifinals are Thursday evening and the women’s Friday morning. The gold-medal games are Saturday at the Gary Moe Auto Sportsplex in Lacombe, Alta.

The top four men’s and women’s teams in the Pan Continental qualify for the 2025 world championships, although Canada has an automatic berth in the men’s championship in Moose Jaw, Sask., as the host country.

Homan’s alternate Rachel Brown got into the game against Mexico’s Adriana Camarena for her first ice time in the event and played third to give Tracy Fleury the night off.

“It’s not every day you get to play third for Rachel Homan,” said Brown, who threw third stones for the first time in her career.

“It was really, really fun. I would have liked to play a little bit better, but the girls were dialled. They played so well.”

South Korea’s Eunji Gim (4-2) was also playoff bound with the fourth women’s playoff team still to be determined Thursday.

In other women’s games Wednesday evening, Japan downed South Korea 6-4, the U.S. hammered Chinese Taipei 19-0 and China defeated New Zealand 9-4.

Gushue is attempting a Pan Continental hat trick after winning the first two tournaments.

Reigning women’s world champion Homan is representing Canada for the first time in the regional championship.

A bonus for Gushue, vice-skip Mark Nichols, second Brendan Bottcher and lead Geoff Walker was South Korea’s 5-4 win over China dropped the latter to a record of 4-2, which means Gushue will be the playoffs’ top seed with choice of stones throughout the playoffs.

“It’s always nice to go into the playoffs that way,” said Gushue’s coach Jeff Hoffart.

Joining Gushue in the men’s final four will be John Shuster of the U.S. (5-1) and Japan’s Shinya Abe and China (4-2).

The U.S. downed Chinese Taipei 9-3 and Japan dominated New Zealand 9-1 in other men’s games Wednesday afternoon.

Bottcher, a longtime skip, is playing his first event for Gushue after the latter fired second E.J. Harnden earlier this month.

This report by The Canadian Press was first published Oct. 30, 2024.

The Canadian Press. All rights reserved.

WINNIPEG – Obby Khan and Wally Daudrich, the two candidates for the leadership of Manitoba’s Opposition Progressive Conservatives, made their respective pitches to members Wednesday night at a forum hosted by the party.

Khan, a former cabinet minister backed by some high-profile Tories including former premier Kelvin Goertzen, pitched himself as best prepared to take over the reins because of his time in the legislature since winning a byelection in 2022.

“I’ve got a ton of energy. I’m in the legislature. I’m ready to hit the ground running on Day 1,” Khan told Tories gathered in a hotel conference room.

“And that legislature is no joke. That is a machine when it comes to question period, when it comes to bills and resolution.”

Daudrich, a longtime party board member who ran unsuccessfully in the past for federal politics, told the crowd he wants to repair the party’s relationship with grassroots members and focus the party on conservative principles.

“Small government, knowing how to spend a dollar frugally, and keeping in touch with our people — those are principles,” he said in response to a question about which ideas the party needs to embrace.

The two men have much in common — both are business owners and the sons of immigrants.

But they differ on some policies.

Daudrich says the Tories can be more fiscally and socially conservative. He told reporters he is pro-life but would let grassroots members set policy on that and other issues.

Khan has said he can build a “big tent” party that can attract people from different political leanings. He told reporters Wednesday night he supports a day of transgender recognition.

“I know what it means, as a minority, to have a day that recognizes you … so I support that day,” said Khan, the first Muslim elected to the Manitoba legislature.

Khan was not in the chamber for a vote last spring on establishing a provincial day of two-spirit and transgender recognition. He was at a doctor’s appointment, he said. The bill passed with support from most politicians. Four Tories voted against it.

The Progressive Conservatives are looking to replace former premier Heather Stefanson, who announced her plan to resign after the party lost the October 2023 election to the NDP.

Daudrich was part of the team behind Shelly Glover, who narrowly lost the last leadership race to Stefanson and unsuccessfully challenged the results in court.

Daudrich and Khan did not go head-to-head at the forum Wednesday night. They took turns sitting on a stage, answering questions from a moderator and from the audience.

This report by The Canadian Press was first published Oct. 30, 2024.

The Canadian Press. All rights reserved.