Here is a rewritten version of the article in a neutral tone, without any emotional language:
Canada’s Economy Shows Resilience After Stalling Last Year
The Canadian economy has shown signs of resilience after experiencing a slowdown last year. According to recent data from Statistics Canada, the country’s GDP growth rate accelerated in January and February.
This unexpected increase is attributed to various factors, including the resumption of oil exports through the Keystone pipeline, which was affected by a spill in December. Additionally, output by wholesalers of machinery and equipment surged due to imports destined for the LNG Canada project in British Columbia.
Another factor contributing to the economy’s growth is the low jobless rate, which is near a historic low. This has offset higher inflation and debt-servicing costs, with wages growing faster than prices for the first time in two years. As a result, consumer confidence remains strong, with industries closely linked to discretionary spending experiencing solid gains.
The Bank of Canada’s decision to pause interest rates on March 8 was seen as a response to this growth. However, policymakers emphasized that they are still concerned about inflation and would consider raising interest rates again if necessary. The next policy update is scheduled for April 12.
Some economists have argued that the economy is growing at an annual rate of around 2.5%, which could influence the Bank of Canada’s decision on interest rates. While this growth may not be enough to prompt a recession, it does pose a concern for policymakers as it exerts upward pressure on inflation.
The Bank of Canada’s quarterly economic outlook predicted a 1.3% annual rate of growth in the fourth quarter, and some economists suggest that their forecast for the first quarter is also likely to be revised upwards. This could mean that interest rates remain unchanged in April, but higher interest rates remain a possibility this year.
Overall, the Canadian economy’s resilience after experiencing a slowdown last year suggests that it remains on a path towards recovery. However, the Bank of Canada will continue to monitor inflation and growth, making adjustments as necessary to maintain economic stability.